Italian Companies and Exchange Commission: Crypto Asset Service Providers Must Obtain MiCAR Authorization by December 30 or Face Shutdown

BlockBeats News, December 5th: The Italian Securities Market Supervisory Authority (Consob) issued a notice reminding that, according to the EU's Cryptocurrency Market Regulation (MiCAR), current Virtual Asset Service Providers (VASPs) registered with the Italian Ordinary Authority of the Markets (OAM) must submit an application by December 30, 2025, to transition to a regulated Crypto Asset Service Provider (CASP) in order to continue operations. Otherwise, starting from that date, they will not be allowed to provide related services, at the latest by June 30, 2026.

Consob specifically reminds investors to: confirm if their current collaborating VASP plans to apply for a CASP license; check if the service provider is listed in the ESMA (European Securities and Markets Authority) or OAM register; if the service provider is not authorized, investors have the right to request the return of their assets. Consob also urges VASPs once again: those who have not applied for CASP authorization must cease operations by December 30, close all contracts, return user funds, disclose future operating plans to users, or exit arrangements. This announcement is in line with MiCAR's comprehensive implementation in the EU to ensure a smooth and orderly market transition.