The Italy MiCA license deadline is approaching, requiring all virtual asset service providers to apply for authorization by December 30 or leave the Italian market. Italy’s enforcement of the Italy MiCA license deadline signals a stricter approach to crypto oversight across the EU.
Italy’s National Commission for Companies and the Stock Exchange (CONSOB) has issued a formal reminder to all virtual asset service providers (VASPs): submit your MiCAR license application by December 30, 2025, or cease operations in the country.
The announcement marks one of the most decisive regulatory steps taken by Italy since the European Union began rolling out its Markets in Crypto-Assets Regulation (MiCAR).
According to CONSOB, the transition from Italy’s older OAM registration regime to full MiCAR licensing is now in its final phase. Firms that fail to comply will lose access to the Italian market and will be required to unwind their activities in an orderly manner.
Italy Shifts From OAM Registration to Full MiCAR Licensing
Until now, crypto companies operating in Italy could legally serve clients by registering with the Organisation of Agents and Brokers (OAM) — a relatively straightforward process that allowed exchanges, custodians, and other providers to function without a deep supervisory framework. Providers that fail to meet the Italy MiCA license deadline will be required to shut down operations and return client assets.
However, with MiCAR now fully in force across the EU, Italy is replacing the OAM regime with a unified licensing model for Crypto-Asset Service Providers (CASPs).
Under this new framework, any firm wishing to continue serving Italian customers must apply for authorization as a CASP directly with CONSOB.
This licensing obligation applies to both Italy-based companies and foreign firms offering crypto services to Italian residents.
Firms Must Apply by December 30 or Exit the Market
CONSOB emphasized that December 30, 2025 is the absolute deadline for submitting a MiCAR license application. Regulators clarified that the Italy MiCA license deadline applies to all VASPs, including foreign companies serving Italian users.
Firms that do not apply by that date must terminate their operations in Italy, regardless of whether they plan to continue operating elsewhere in the EU.
Companies choosing not to seek authorization must:
- cease all crypto-related activities in Italy by the deadline,
- close existing contracts with Italian clients,
- return customers’ crypto assets and fiat funds according to their instructions,
- discontinue all provided services, including custody, administration, and trading facilities.
CONSOB also expects exiting companies to communicate proactively with their customers, ensuring that withdrawals and contract terminations occur smoothly and transparently.
Transition Period Runs Until June 30, 2026
Crypto firms that submit their MiCAR application on time will be allowed to continue operating during a dedicated transition window.
This period lasts until June 30, 2026, or until CONSOB issues its decision — whichever comes first.
During this transition phase, companies may keep serving clients in Italy, but only if they:
- have submitted a complete and compliant application,
- meet all interim reporting and documentation requirements,
- demonstrate ongoing progress toward full MiCAR alignment.
After the transition window closes, only licensed and supervised providers will be allowed to operate in Italy’s crypto market.
OAM-Registered Providers Must Disclose Their MiCAR Adoption Plans
In addition to the licensing requirement, CONSOB issued a parallel obligation for all providers currently registered with OAM.
These firms must openly publish and distribute information about their MiCAR implementation plans, including timelines, organizational changes, and the measures being taken to comply with the new EU framework.
The regulator stated that transparency is essential to ensure customers understand whether their providers intend to remain in the market or exit it.
Users Encouraged to Check Their Provider’s Status
CONSOB also urged Italian crypto users to contact their exchanges, custodians, and brokers to verify whether:
- the provider plans to apply for a MiCAR license in Italy, or
- intends to obtain authorization in another EU jurisdiction, or
- plans to leave the Italian market entirely.
Given that a number of companies may not apply by the deadline, CONSOB warned that some customers may soon need to migrate to fully licensed platforms.
Major Exchanges Already Securing MiCAR-Compliant Licenses
A growing number of global and European crypto exchanges have already received MiCAR authorization in various EU jurisdictions.
These include:
- Gemini
- Bitvavo
- Kraken
- Coinbase
- and several other high-profile operators
Their early compliance demonstrates the increasing strategic importance of the EU market and the tightening regulatory landscape.
As MiCAR implementation continues across Europe, Italy’s strict deadline signals that the era of light-touch crypto regulation in the region is over. Firms unwilling or unable to meet the new standards will be forced out, while licensed providers gain exclusive access to one of the EU’s most active retail crypto markets.
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