The Italian Securities Market Supervisory Authority (Consob) has issued an announcement reminding: According to the European Union's Crypto Asset Market Regulation (MiCAR), virtual asset service providers (VASPs) currently registered with OAM in Italy must submit an application to transform into regulated crypto asset service providers (CASPs) before December 30, 2025 if they want to continue to operate. Otherwise, they will not be able to continue to provide relevant services from that date, and no later than June 30, 2026.
Consob particularly reminds investors: it is necessary to confirm whether the currently cooperating VASP plans to apply for a CASP license; check whether the service provider is in the ESMA (European Union Securities Market Authority) or OAM register; if the service provider is not authorized, investors have the right to request the return of their assets. Consob also once again urges VASPs: those who do not apply for CASP authorization must terminate operations by December 30, close all contracts and refund user funds; clearly disclose future operating plans or exit arrangements to users. This announcement is in line with the full implementation of MiCAR in the European Union to ensure a smooth and orderly transition of the market.
Italian Securities Market Supervisory Authority: Virtual Asset Service Providers Must Apply to Transform into Crypto Asset Service Providers by December 30 to Continue Operations
2025-12-05 05:19:24
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