What Happens to Non-Compliant Platforms

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CONSOB says VASPs that choose not to seek MiCA authorization must:
• Cease operations in Italy by Dec. 30
• Terminate all contracts
• Return all client crypto-assets and funds
VASPs must also directly inform customers of whether they plan to comply or wind down. Italy’s MiCA-implementing decree gives regulators clear authority to enforce the transition.

[Nahid Hossen]

Non-compliant platforms won’t just face fines—they risk losing long-term market access.

[Abdul Khan]

Regulation is becoming clear: adapt or be pushed out.