The Italian financial regulator, Consob, has issued an official notice to investors and all Virtual Asset Service Providers (VASP) regarding the end of the MiCAR transitional period on December 30, 2025. According to this regulation, any VASP wishing to continue offering services in Italy must apply for a license to become a Crypto-Asset Service Provider (CASP) before the deadline.
Entities that do not submit their applications on time will be required to cease all operations in the Italian market and promptly return both funds and crypto assets to customers. Conversely, VASPs that apply before the deadline will be allowed to continue operating while awaiting approval, until they are either accepted or rejected, but no later than June 30, 2026. Consob emphasizes that these transitional regulations are intended to ensure market stability, enhance consumer protection, and establish a fully compliant digital asset service environment in Italy.
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