Italy Enforces MiCAR Deadline for Crypto Firms: Comply or Exit by December 30
Italy's financial regulator Consob has mandated that all VIRTUAL asset service providers (VASPs) operating in the country must obtain authorization under the EU's Markets in Crypto-Assets (MiCAR) regime by December 30 or cease operations. The new framework introduces stricter oversight for custody, trading, and transparency protocols.
MiCAR aims to prevent systemic risks exposed by recent exchange failures and token collapses, establishing uniform standards across EU member states. Retail investors will face heightened protections, including rigorous service quality requirements and operational safeguards.
Consob's ultimatum reflects Europe's broader push to regulate the digital asset sector. Firms failing to meet the deadline risk losing access to Italy's market—one of Europe's key crypto jurisdictions.