Italy Sets December 2025 Deadline for Crypto Firms’ MiCA Compliance

Italy's securities regulator, Consob, announced that crypto and virtual asset service providers (VASPs) must obtain authorization under the EU's Markets in Crypto-Assets regime (MiCA) by December 30, 2025. Providers failing to comply must stop serving Italian clients and return customer funds by year-end.

Key Points for Firms

• Companies applying for MiCA authorization by the deadline can operate temporarily until June 30, 2026.
• Operators currently using Italy's lighter national registry (OAM) must either seek full authorization or exit the market safely.
• Exiting firms must notify users clearly and ensure safe asset returns.

Broader Regulatory Review

• Italy’s Economy Ministry is conducting a detailed review of crypto risks involving the Bank of Italy and Consob.
• The review will assess whether existing investor protections are adequate amid rising crypto exposure.

Investor Considerations

• Italian customers should check if their platforms have applied for MiCA compliance or plan an exit.
• Failure to apply by December 30 could lead to service interruptions; users should follow fund return instructions.
• Smaller platforms may struggle with compliance costs and might consider licenses in other EU states or merging.

The provisional operating period extends to mid-2026, but the final market configuration depends on firms' compliance speed and authorization processing time. Consob's firm deadline and mandatory filings indicate a stricter stance on crypto oversight in Italy.