Italy sets hard MiCA deadline for crypto platforms to comply

Italy's securities regulator, CONSOB, has established a firm timeline for compliance with the EU's Markets in Crypto-Assets Regulation (MiCA). Virtual Asset Service Providers (VASPs) registered under the existing national framework (OAM) must either seek authorization as Crypto Asset Service Providers (CASPs) under MiCA or exit the market by December 30, 2025. Operators who apply for CASP authorization by this date can continue operating while their application is assessed, but no later than June 30, 2026. VASPs choosing not to seek authorization must cease activities, terminate contracts, and return client funds by the December 30, 2025 deadline, while informing clients of their plans. This national framework utilizes the flexibility within MiCA's transitional provisions. CONSOB also warned retail investors to verify their providers' compliance plans or request fund returns.

(Source：Cointelegraph)