Back
Italy’s Consob Sets CASP License Deadline for VASPs Under MiCAR

Italy’s Consob Sets CASP License Deadline for VASPs Under MiCAR

Consob’s year-end compliance mandate forces crypto firms to either secure EU MiCA authorization or exit Italy, with a provisional operating window extending to mid-2026 for applicants under review.

Fact Check
The statement is highly likely to be true based on strong and consistent evidence from multiple sources, including primary documents from the regulator itself. The most authoritative sources, an official communication and a press release from Italy's CONSOB, directly confirm the core of the claim. Specifically, the press release announces a '30 December deadline' for the Markets in Crypto-Assets (MiCAR) transition period. This deadline effectively requires Virtual Asset Service Providers (VASPs) currently operating in Italy to regularize their position by seeking authorization as Crypto-Asset Service Providers (CASPs) to continue their services legally. This primary evidence is uniformly supported by numerous secondary sources, including crypto-focused news outlets like Cointelegraph and Coinspeaker, which consistently report that CONSOB has set a 'hard deadline' creating a 'license-or-exit' situation for crypto firms. There is no conflicting evidence among the provided relevant sources. The only irrelevant source pertains to the financial regulator of Luxembourg and does not impact the assessment.
    Reference: 123
Summary

Italy’s securities regulator, Consob, has ordered all virtual asset service providers to secure authorization under the EU’s Markets in Crypto-Assets Regulation (MiCA) by December 30, 2025, or cease serving Italian clients. Those applying by the deadline may continue operating while applications are reviewed, but provisional permission will end June 30, 2026. The directive targets firms registered under Italy’s lighter national OAM system, requiring either full CASP licensing or an orderly exit with asset returns. Italy’s Economy Ministry has launched a broader risk review involving Consob, the Bank of Italy and other agencies to assess investor protections and systemic risks linked to crypto.

Terms & Concepts
  • Consob: Italy’s financial markets regulator, responsible for overseeing securities and protecting investors.
  • CASP License: Authorization for crypto asset service providers under the EU MiCA framework, enabling legal operation within the European Union.
  • MiCA: Markets in Crypto-Assets Regulation, an EU-wide legal framework for digital asset services and issuers.