Italy Sets Hard Mica Deadline For Crypto Platforms To Comply

Italy’s markets regulator sets firm MiCA deadlines, forcing VASPs to seek authorization or exit by Dec. 30, and urges investors to check providers’ compliance plans.

Italy’s securities regulator set a firm timetable for applying the European Union’s Markets in Crypto-Assets Regulation (MiCA) in the country, warning that unlicensed crypto platforms face a deadline to either seek authorization or leave the market.

The move directly affects virtual asset service providers (VASPs) currently operating under Italy’s regime and the retail investors who use them.​

In a news release published Thursday, Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB) reminded the market that Dec. 30 is the last day VASPs registered with the Organismo Agenti e Mediatori (OAM) can operate under the existing national framework.

After that date, only entities authorized as crypto asset service providers (CASPs) under MiCA, including firms passporting into Italy from another EU member state, will be allowed to offer crypto‑asset services in the country.​

CONSOB notes that, under Italy’s MiCA‑implementing legislation, VASPs that submit an application to be authorized as CASPs in Italy or another European Union member state by Dec. 30 may continue operating while their applications are assessed, but no later than June 30, 2026.

This transitional operating period is available only to operators who file by the deadline and ends once authorization is granted or refused, or when the June 30, 2026, limit is reached.​

Related: ECB president calls to address risks from non-EU stablecoins

For VASPs that decide not to seek authorization under MiCA, CONSOB outlined specific obligations. These operators must cease their activities in Italy by Dec. 30, terminate existing contracts, and return clients’ crypto‑assets and funds in accordance with customers’ instructions.

CONSOB also said that VASPs registered in the OAM list must publish adequate information on their websites and inform clients directly about the measures they intend to adopt, either to comply with MiCA or to ensure an orderly closure of existing relationships.

Source: CoinTelegraph