Italy sets 2025 MiCA deadline for crypto provider Consob

• Italy's financial market regulator, Consob, has mandated that Virtual Asset Service Providers (VASPs) must secure MiCA-compliant CASP authorization by December 30, 2025, or they will need to cease operations in Italy and return client assets. This directive emphasizes the importance of regulatory compliance in the evolving cryptocurrency landscape.
• This development is significant as it establishes a clear deadline for VASPs operating in Italy, compelling them to align with the Markets in Crypto-Assets (MiCA) regulations. Failure to comply could result in operational shutdowns and loss of client trust, impacting the broader cryptocurrency market in Italy.
• The move reflects a growing trend among European regulators to enhance oversight of cryptocurrency markets, particularly in light of rising risks associated with crypto investments. As the European Commission seeks to bolster the powers of the European Securities and Markets Authority (ESMA), the Italian directive underscores the urgency for VASPs to adapt to a more stringent regulatory environment.

— via World Pulse Now AI Editorial System