- Consob urged VASP to secure CASP approval or close by December 30, 2025.
- This is the deadline to transition to the new MiCAR policy approach.
- Unauthorized operators will have their services terminated and user assets returned.
Italy’s financial regulator Consob has issued an urgent call to digital asset investors and operators as the country moves closer to adopting a MiCAR policy.
In a press release late yesterday, Consob highlighted that the date is December 30, 2025, when virtual asset service providers (VASPs) operating under the existing regime will be able to provide services without full authorization.
Consob warned that operators who do not follow the transition risk being banned.
Therefore, all VASPs operating in Italy must comply with the EU’s cryptocurrency asset market regulations or be kicked out of the market.
Press releases highlighted:
December 30, 2025 is the last day that virtual asset service providers (VASPs, currently operators providing virtual asset services such as cryptocurrency exchanges) registered with the OAM (Organismo Agenti e Mediatori or Agents and Brokers Organization) can continue to operate.
MiCAR resets Italy’s regulatory rulebook
Italian regulators wanted VASPs to secure an Organismo Agenti e Mediatori (OAM) certificate to ensure smooth operation for many years.
Meanwhile, MiCAR imposes stricter rules to ensure that only fully licensed Crypto Asset Service Providers (CASPs) can provide services in the European Union.
Meanwhile, the approval process includes operational checks, client protection requirements, supervisory controls and existing monitoring. It is much more stringent than the previous model.
Consob emphasized that VASP will only work if you apply for CASP certification in Italy or another European Union member state by December 30.
Businesses that submit applications by this deadline can continue to provide services until a final decision, but all businesses must comply with MiCAR by June 30, 2026.
What’s next for investors?
Consob issued a warning to both operators and everyday cryptocurrency users.
Investors should immediately confirm whether their desired service provider plans to comply with the new policies and requirements.
There are two important things to monitor here:
First and foremost, investors should check whether the operator has announced a MiCAR transition plan.
Second, investors should check the regulatory status of the provider after the deadline.
Non-covered or unauthorized VASPs will not operate in Italy after December 30, and customers may request the return of their assets following such developments.
Meanwhile, Consob has repeatedly confirmed alert operators during the transition phase, highlighting updates in September last year, July 2025 and an October 31 notification for companies that still only hold OAM certificates.
Some operators see MiCAR as a path to regulated international operations, while others see the new regulations as the end of the road.
Meanwhile, digital asset investors should remain vigilant, check the regulatory status of their providers, and take action before the new MiCAR regulations force them into lockouts or last-minute withdrawals.