Italy’s financial markets regulator, the Commissione Nazionale per le Società e la Borsa (CONSOB), has issued a definitive deadline for the country’s crypto sector to align with the European Union’s Markets in Crypto-Assets (MiCA) regulation. All Virtual Asset Service Providers (VASPs) operating in Italy must secure formal authorization under the new framework by December 30, 2024. Firms failing to meet this requirement will be compelled to cease operations within the Italian market.
In an official communication, CONSOB emphasized the urgency for service providers to initiate their compliance procedures immediately. The regulator concurrently advised investors to exercise heightened diligence, recommending they proactively verify whether their chosen platforms have a clear and actionable plan to obtain MiCA authorization. This directive underscores a broader EU-wide effort to establish a harmonized regulatory environment, aiming to enhance consumer protection and market integrity across the digital asset landscape. The move positions Italy among the first member states to publicly enforce a concrete transition timeline for the landmark legislation, setting a precedent for rigorous oversight.
