Italy sets deadline for virtual asset platforms: Get regularized by the end of next year or shut down

[Blockchain News] The Italian financial regulator has recently issued a strict rule, setting a life-or-death deadline for virtual asset platforms registered in Italy.

If the trading platform you’re using is registered with Italy’s OAM, it must apply to become a licensed crypto asset service provider by the end of December next year. Miss this deadline? Then it has to shut down, with a maximum extension until mid-2026.

The regulator specifically advised users to stay alert: first, check whether the platform you use plans to apply for the new license, then look up its legal status on the public lists of ESMA or OAM. If you find that the platform is not authorized at all, you have every right to withdraw your funds.

As for platforms that don’t intend to apply for a license, the regulator’s stance is crystal clear—quickly liquidate and close down, return users’ funds honestly, and don’t drag things out. They’re also required to inform users in advance whether they will continue operations or prepare to exit.

This move is actually in line with the comprehensive rollout of the EU’s new MiCAR regulations. In short, it’s about keeping the market orderly: those who need to comply must comply, and those who need to exit must exit.