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- Investors need to confirm whether their crypto service providers will stay authorized after 30 December 2025.
- Virtual Asset Service Providers must meet MiCAR rules or prepare to close operations.
- Consob asks both investors and operators to act early and avoid last-minute risks.
According to the press release, Consob urges investors and operators to move with care as the transition period for the new MiCAR rules nears its end. The European framework sets strict standards for crypto-asset markets. Italy now works to align its system with this structure. The key date is 30 December 2025.
It marks the final day on which VASPs registered with the OAM can continue to operate without full authorization. VASPs may still work after that date, but only if they submit an application to become CASPs in Italy or any EU state. They must file the request by 30 December.
Those who respect this condition gain a short extension. Their services may continue until authorities approve or reject the application. The allowance lasts no longer than 30 June 2026. The updated regime creates a clear change.
VASPs only need OAM registration today. CASPs must secure approval from Supervisory Authorities and remain under ongoing oversight. Consob explains that this shift aims to support a more orderly and transparent crypto market.
Consob Urges Investors to Verify VASP Status
Consob outlines firm warnings for investors. A VASP that operates today may not stay authorized after 30 December. Users must confirm whether their provider plans to comply with MiCAR rules. Investors should check if they received clear information on the company’s future steps.
If the message has not reached them, they must request an update. The next step is verification. Investors can consult the list of active VASPs on the OAM website. They can also check the register of authorized CASPs maintained by ESMA. If a provider does not hold valid authorization, it cannot continue to offer services.
In such cases, customers can request the return of their funds or crypto-assets. Consob stresses that early action protects users from disruption. Clear communication between providers and clients helps avoid confusion during the transition.
Consob Warns VASPs Ahead of MiCAR Deadline
VASP operators also receive direct reminders. Consob has already shared several guidelines in recent months. Prior notices offered practical steps and instructions for the transition. The authority now reinforces the need for decisive action before the 30 December deadline.
Operators that do not plan to seek CASP authorization must stop all services in Italy on that date. They must close existing contracts and return customer assets. All services, including custody and administration, must end in a proper and timely manner.
VASPs registered with the OAM must also publish detailed plans on their websites. They must inform customers about the steps they will take to comply with MiCAR or, if needed, the measures for an orderly shutdown. Consob states that the goal is a smooth and responsible shift into the new regulatory era.
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