Overview
- Providers that file for CASP authorization by Dec. 30 may keep serving clients during review, with operations ending at approval or rejection, or by June 30, 2026 at the latest.
- Firms that do not apply must stop Italian services by Dec. 30, terminate contracts, return all crypto-assets and funds, and publish clear notices to customers and on their websites.
- Platforms can seek authorization in Italy or another EU member state and rely on passporting to continue serving Italian users once approved.
- CONSOB instructed investors to verify providers’ status and plans, directing them to the OAM list and ESMA’s CASP register and to withdraw if information is absent.
- Supervisory responsibilities are being formalized with CONSOB overseeing market conduct and the Bank of Italy focusing on AML and stability, and Reuters reports the Economy Ministry has ordered a cross-agency crypto risk review.