Italian regulators have intensified control over the cryptocurrency market: all crypto companies operating in the country must either obtain permission under the new European regulation MiCAR by December 30, 2025, or cease operations in Italy.
This decision has a direct impact on cryptocurrency exchanges, brokers, and virtual asset service providers (VASP) that serve Italian users. Consob, the Italian financial regulator, emphasized the importance of complying with new rules and urged investors and operators to be particularly vigilant during the transition to unified cryptocurrency regulation standards in the EU.
What is MiCAR and why is it important for crypto companies
MiCAR (Markets in Crypto-Assets Regulation) is a comprehensive European regulation that introduces uniform requirements for all crypto asset service providers (CASP) and exchanges in the European Union.
The main goal of MiCAR is to increase the transparency of crypto companies' operations, strengthen investor protection, and prevent major disruptions in the market that have been observed in recent years. Now, companies that operate as VASP and are registered with OAM must obtain CASP status to continue operations after December 30, 2025.
How users can check a crypto service for compliance with MiCAR
Consob recommends that users of crypto exchanges and other virtual asset service providers check their providers' compliance with the new MiCAR requirements.
Companies that do not plan to undergo licensing under MiCAR must:
Close all active contracts.
Refund clients' funds and crypto assets.
Post detailed information about further steps on the website and notify clients directly.
For investors, this means that it is worth paying close attention to the status of their crypto services and checking whether they have MiCAR permission.
Transitional period for crypto companies
Companies that applied for MiCAR permission by December 30, 2025, will be able to temporarily serve clients until the regulator's final decision. This transitional period will end no later than June 30, 2026.
MiCAR introduces ongoing supervision and preliminary licensing, allowing the EU to monitor the cryptocurrency market more effectively. For users, this guarantees increased security and minimizes the risks of losses due to unscrupulous service operations.
VASP and CASP: what will change for crypto companies
Until the end of 2025, companies can operate as VASP if they are registered with OAM. After that, they must obtain CASP status (crypto asset service provider) to continue operations.
For companies that refuse CASP licensing:
Cease operations in Italy by the end of 2025.
Refund all funds and crypto assets to clients.
Publication of transparent information about the cessation of operations.
These measures are aimed at protecting investors' interests and increasing trust in crypto services.
What does this mean for the cryptocurrency market in Italy and the EU
The introduction of MiCAR makes the regulation of the crypto market in Europe unified and transparent. This is a positive signal for investors as it reduces the risks of fraud and increases the accountability of crypto companies.
Italian crypto companies and exchanges must adapt to the new rules by the end of 2025. Those who meet MiCAR requirements will be able to continue legal operations and serve users, complying with European safety standards.
For investors, this is an important point: checking the status of a crypto service and understanding its compliance with MiCAR becomes a key factor in choosing a platform for working with crypto assets.
Conclusion:
MiCAR will become an important milestone in the history of cryptocurrency regulation in Europe. Italian crypto companies and exchanges that do not adapt to the new rules will be forced to cease operations, and users must carefully check their services. The transition to unified European standards increases security, transparency, and trust in the crypto market, making it more stable and reliable for investors.
