Overview
- CONSOB said only firms that file for CASP authorization in Italy or passport from another EU state by the deadline can operate beyond that date.
- Companies opting out must cease Italian services on Dec. 30, terminate contracts, and return all crypto-assets and funds per client instructions.
- Providers must post clear transition or exit notices on websites and notify customers directly of their plans and timelines.
- The regulator urged retail users to check provider status via the OAM list or ESMA’s CASP register and to seek withdrawals or explanations if plans are not disclosed.
- The shift from OAM registration to MiCA authorization brings tougher operational checks and supervision, with observers expecting a short-term reduction in smaller or non-compliant platforms.