Crypto regulation in Italy
Crypto is regulated in Italy under the European Union Markets in Crypto Assets Regulation, MiCA. As of June 2026 CONSOB is the lead authority that authorises crypto asset service providers and supervises conduct, acting on the opinion of the Banca d'Italia, which handles prudential and anti money laundering supervision. The earlier OAM register of virtual asset service providers is being replaced, and the transitional regime closes on 30 June 2026.
The framework that applies
Italy regulates crypto through MiCA, the European Union Markets in Crypto Assets Regulation, which applies directly in every member state. MiCA sets a single rulebook for crypto asset service providers, for issuers of asset referenced tokens and electronic money tokens, and for market conduct such as the prevention of market abuse. As of June 2026 a firm that provides crypto services to Italian residents, including operating an exchange, custody, the execution of orders, or the placing of crypto assets, must be authorised as a crypto asset service provider, a CASP, or passport an authorisation held in another member state.
Who supervises crypto in Italy
Italy uses a two authority model that it set out when it adapted national law to MiCA. CONSOB, the Commissione Nazionale per le Societa e la Borsa, is the lead competent authority. As of June 2026 CONSOB receives and decides CASP applications, supervises conduct of business and market integrity, and maintains the public information on authorised providers. It grants an authorisation on the opinion of the Banca d'Italia. The Banca d'Italia supervises prudential soundness, governance, and anti money laundering obligations, and it covers services tied to payments and electronic money tokens. The two authorities coordinate, with CONSOB facing the market and the Banca d'Italia focused on stability and financial crime controls.
From the OAM register to MiCA
Before MiCA, firms providing virtual currency and wallet services to Italian users had to be entered in a dedicated section of the register held by the Organismo Agenti e Mediatori, the OAM. As of June 2026 that register is being superseded by the MiCA authorisation regime. Being on the old OAM list does not by itself allow a firm to keep operating once the transition ends, because the OAM registration was an anti money laundering measure rather than the full conduct and prudential authorisation that MiCA now requires.
The transition timeline
MiCA allowed member states to set a transitional window for firms that were already active. Italy required operators that were registered with the OAM to move into the CASP authorisation process, with 30 December 2025 set as a key date for registered operators to be progressing an application. The transitional regime closes on 30 June 2026. From 1 July 2026 a provider must hold a granted MiCA authorisation, or rely on a passport from another member state, to serve Italian residents. As of June 2026 the Italian authorities were still processing applications, and few or no domestic Italian CASP authorisations had been granted, which is why many platforms serve Italy under a licence passported from another European Union country. Confirm a platform's current status before you rely on it.
Compare available exchanges in Italy
Several platforms serve Italy residents under MiCA as of June 2026, generally through an authorisation passported from another member state. We list a platform here only where it is genuinely available to this country.
Regulator and sources
The supervisors are CONSOB, as lead authority for crypto asset service providers, and the Banca d'Italia for prudential, payments, and anti money laundering aspects.
- European Union Regulation on Markets in Crypto Assets (MiCA), applied in Italy.
- CONSOB, on its role authorising and supervising crypto asset service providers and the CASP register.
- Banca d'Italia, on prudential and anti money laundering supervision and its opinion in the authorisation process.
- OAM, on the earlier register of virtual asset service providers that MiCA is replacing.
Frequently asked questions
- Who regulates crypto in Italy?
- As of June 2026 CONSOB is the lead authority that authorises crypto asset service providers and supervises conduct, acting on the opinion of the Banca d'Italia, which covers prudential and anti money laundering supervision under the MiCA framework.
- Is a licence needed to run a crypto exchange in Italy?
- Yes. A firm providing crypto services to Italian residents needs authorisation as a crypto asset service provider under MiCA, granted by CONSOB on the opinion of the Banca d'Italia, or it must passport an authorisation held in another member state.
- What was the OAM register?
- The OAM held a dedicated register of virtual asset and wallet service providers as an anti money laundering measure. As of June 2026 it is being replaced by the MiCA authorisation regime, and an OAM entry alone does not let a firm keep operating after the transition.
- When does the MiCA transition end in Italy?
- The transitional regime closes on 30 June 2026. From 1 July 2026 a provider must hold a granted MiCA authorisation, or passport a licence from another member state, to serve Italian residents.