Italy has set a deadline for crypto platforms operating in the country to comply with the European Union's regulation on crypto markets (MiCA). Companies offering digital services must apply for authorisation by 30 December 2025 or leave the Italian market.
The directive comes from the supervisory authority CONSOB, which issued a public notice reminding crypto asset service providers (VASPs) registered under the previous regime that they cannot continue to operate indefinitely without the approval required by MiCA.
After the expiry, only crypto-asset service providers (CASPs) authorised under MiCA, including those operating in Italy through the European passport, will be able to serve clients in the country.
The measure definitively closes the previous national regime and forces the industry to align with the EU's unified regulatory approach. Italy's position is one of the clearest in Europe: apply or exit.
Apply and Operate Until 2026, or Cease Business and Return Funds
VASPs who apply for authorisation by 30 December can continue to operate while the application is processed. However, this transitional period has a definite limit: 30 June 2026. By that date, each applicant must either be fully authorised, rejected or forced to close down operations.
Companies that do not apply must comply with strict obligations:
- Cease operations in Italy by 30 December
- Terminate existing contracts
- Return all crypto assets and customer funds
- Post information on their website
- Directly inform customers of their plans
CONSOB has made it clear that non-compliant operators must organise an orderly exit. This includes providing withdrawal procedures and ensuring that investors can recover assets without disruption.
The authority also advised retail users to check the status of their provider. If investors have not yet received information on how the platform is handling MiCA compliance, they are encouraged to request clarification or withdraw funds.
Wider EU push to end transitional licences
The Italian announcement reflects the EU-wide message on the latest phase of MiCA. On the same day, the European Securities and Markets Authority (ESMA) emphasised that the transitional authorisations are temporary and will expire. Companies still operating under national regimes are not automatically MiCA-authorised and must plan for a full approval or an orderly exit.
Italy's decision shows how Member States are using the flexibility granted by MiCA to set national deadlines. By setting a hard limit for both applications and ongoing activities, Italy has removed any uncertainty for platforms and investors.
The result is a more predictable environment, with a clear end point: full MiCA authorisation is now the price to pay to stay in the Italian digital asset market.
