Italy orders non-compliant VASPs to apply for MiCA or exit by Dec 30, 2025
Italy has set a firm deadline of Dec. 30, 2025 for all virtual asset service providers (VASPs) operating in the country to apply for authorization under the EU Markets in Crypto‑Assets regulation (MiCA). Law Decree 95/2025 extended the original June 30 cutoff by six months. CONSOB will oversee authorizations: VASPs that submit applications can continue operating during the review; those that do not must terminate client relationships, return customer assets and publish exit or licensing plans. Providers denied authorisation have 60 days to wind down; applicants may operate under transitional rules only until June 30, 2026. The decree covers exchanges, wallet providers and other crypto service firms; reported registration fees range from €50,000–€150,000 depending on size and scope. Enforcement is already underway—CONSOB blocked 10 unauthorised crypto sites in September 2025—and the rule has driven market consolidation: ~18% of European platforms exited the EU market in 2025 for failing to meet MiCA standards, while large compliant exchanges (Binance, Kraken, Coinbase) hold over 70% of the MiCA‑compliant EU market share. An estimated 3.6 million Italians are expected to hold digital assets by end‑2025. Key SEO terms: MiCA, VASP compliance, CONSOB, Italy crypto regulation, market consolidation.
Neutral
The news enforces regulatory compliance rather than announcing market-supportive stimulus or a ban on a specific crypto token, so direct price pressure on any single cryptocurrency is limited. Short-term effects: increased uncertainty and possible sell pressure from users forced to move assets away from non‑compliant VASPs, and liquidity shifts as smaller platforms exit—this can cause volatility on affected exchanges and services. Medium-to-long term: clearer regulatory framework and enforced authorization should reduce counterparty risk and favor larger, MiCA‑compliant exchanges, supporting market concentration and possibly improving institutional confidence in the EU market. Overall, the announcement is neutral for crypto prices broadly—negative for small VASPs and fragmented liquidity, positive for regulatory certainty and large compliant platforms—so price direction is ambiguous and depends on execution, enforcement scope and user migration paths.