meta_id 3285659

On June 30, 2026, the Bank of Italy (Banca d'Italia) and the Italian Securities and Exchange Commission (Consob) announced the conclusion of the transitional period under the European Union's Markets in Crypto-Assets Regulation (MiCAR). From July 1, 2026, Virtual Asset Service Providers (VASPs) operating under national regimes must cease operations unless they have obtained authorisation as Crypto-Asset Service Providers (CASPs) under MiCAR or are already-regulated intermediaries that have notified their intention to provide crypto-asset services. In Italy, Consob has authorised eight CASPs in coordination with the Bank of Italy: CheckSig S.r.l., Conio S.r.l., CryptoSmart S.p.A., Hercle S.r.l., Hodlie S.r.l., Olliv S.r.l., Riv Digital S.r.l., and Young Platform S.p.A. Additionally, Banca Sella S.p.A., a banking intermediary, has notified the Bank of Italy of its intention to provide crypto-asset services, bringing the total to nine authorised entities. These operators are registered in the Crypto-Asset Service Provider Register maintained by the European Securities and Markets Authority (ESMA) and can offer services across all European Union member states under the European passport regime. Unauthorised operators must cease activities by July 1, 2026, and may only perform functions necessary to close existing client relationships, transfer assets, or liquidate positions while complying with anti-money laundering and counter-terrorism financing obligations. The Bank of Italy and Consob advise investors to verify their service providers' authorisation status by consulting the ESMA register and to confirm which legal entity provides services, as MiCAR protections apply only to authorised EU providers. Investors whose providers lack authorisation should transfer crypto-assets to authorised entities or self-hosted wallets, or close existing positions. The Bank of Italy and Consob will continue supervisory activities in coordination with ESMA to ensure uniform MiCAR implementation and adequate investor protection.