Italy Hits Crypto Service Providers With Hard Deadline To Comply With MiCA

Italy sets a firm MiCA deadline that forces crypto platforms to seek authorisation or exit, pushing investors to confirm provider plans.

Italy will reportedly enforce a strict MiCA deadline that affects every crypto platform active in the country. 

The rule aims to move operators from a simple registration model to a stronger authorisation system. 

Because of this, authorities want firms and investors to prepare early so the transition stays organised.

Italy’s MiCA Deadline

According to the Italian government, Italy will stop allowing firms to operate under the older registration regime after December 30. 

The reminder comes from Consob, the national markets watchdog, and its statement explains that the change fits within the European Union’s broader MiCA framework.

VASPs in Italy operate today through the OAM register. That system allows firms to enter the market through a straightforward filing. 

However, the new framework raises the bar through a full authorisation model. Under MiCA, only firms licensed as CASPs can offer services in Italy. 

Operators from other EU countries can also enter the market through passporting, as long as they meet the same rules.

What Firms Must Do To Stay Active

Consob states that VASPs must apply for CASP authorisation by December 30. This means that firms that file on time can keep serving clients during the review, but no later than June 30 of next year. 

Once an authority accepts or rejects the application, the transition period ends.

Firms that do not apply must take several actions. Firstly, they must halt their services by the deadline. They must also return user assets and close existing contracts following client instructions. 

Consob expects each firm to post clear details on its website and inform clients directly. This includes whether the firm plans to comply with MiCA or exit the market.

These steps come from Italy’s own legislative decree that implements MiCA. The decree uses the flexibility allowed under EU rules to set a national timetable. The aim is to move the market toward a uniform authorisation structure across Europe.

Investors Receive Their Own Set Of Warnings

Consob addresses investors in a separate section of its notice. The regulator urges people to confirm whether their platform plans to meet the deadline. 

Many operators may not qualify to stay in the market after December 30. Users should check for direct messages from their provider. 

The notice from the Italian watchdog | source- CONSOB

If they do not receive one, they should request information or ask for the return of their funds.

The proposed change aims to reduce confusion as the deadline approaches, and Italy wants retail users to avoid surprises when firms shut down or change their services.

Related Reading: Italy’s Bold Move – Crypto Rules That Could Change Everything

What This Means For Crypto Firms

The new direction towards MiCA pushes firms to raise their compliance standards. The simple registration model will no longer be enough, and firms that want to stay active must prove they meet authorisation rules. 

This includes governance, transparency and stronger controls.

Analysts say that some operators may choose not to continue. However, even then, those firms must follow orderly exit rules. They must return client funds and publish clear notices. 

Italy views this as a necessary step toward a more accountable market.

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