CAPITAL MARKETS | Consob reminds crypto-asset service providers of the expiry of the MiCA transitional period

On 23 April 2026, Consob drew the market’s attention to the upcoming expiry, on 1 July 2026, of the transitional period under Regulation (EU) 2023/1114 of 31 May 2023 (on markets in crypto-assets, and amending Regulations (EU) No. 1093/2010 and (EU) No. 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937) (the MiCA Regulation). As from that date, crypto-asset services may be provided to clients in the European Union only by entities authorised under the MiCA Regulation. In view of the deadline, the European Securities and Markets Authority (ESMA) reiterated that non-authorised crypto-asset service providers are expected to implement orderly wind-down plans, enabling the transfer of clients’ crypto-assets to authorised providers or self-custody wallets without economic prejudice to clients. In this context, Consob invited investors to verify that their provider is authorised and included in ESMA’s MiCA Register, as the protections afforded by the MiCA Regulation apply only in respect of entities authorised in the European Union.

Newsletter n. 118 – May 2026