Obtain a MiCA licence in Italy

25.07.2025

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Obtaining a MiCA licence in Italy today means not just entering the European crypto market, but complying with the most stringent regulations introduced at the EU level. On 1 July 2025, Italy finally switched to a single system of digital asset regulation, and now any provision of crypto services in the country is possible only on the basis of an official permit, the MiCA-licence. The past compromises in the form of temporary registration in the OAM are a thing of the past: only those who have managed to apply in time or have already received approval remain in the legal field.

In this article, I will look in detail at how the licensing of crypto businesses under MiCA takes place in Italy, who can apply for such status after the transition period, what financial and legal conditions are imposed on applicants, and how much it really costs to go from application to approval. Special attention will be paid to the peculiarities faced by foreign entrepreneurs when registering CASP in Italy, as well as the mechanisms of interaction with Consob and other regulators. This guide will be useful for anyone planning to start a cryptocurrency company in Italy and enter the regulated EU market.

What's changed from the 1st of July, 2025: the end of the MiCA transition period in Italy

A key milestone has passed since the MiCA regime was introduced in Italy. Until 30 June, there was a transitional period during which crypto service providers registered in the OAM register could continue to operate without MiCA, subject to application. However, as of 01.07.2025, all exemptions ceased, the country is exclusively subject to a single standard of cryptocurrency regulation in Italy, in line with the provisions of EU Regulation #2023/1114.

It is now mandatory for all companies wishing to provide crypto services to obtain a MiCA licence in Italy. There are no more exceptions or relaxations. The licence is not issued on formal grounds, but after a full legal review of all elements of the model: from the source of capital to the risk management system and information architecture.

It is not possible to register a cryptocurrency company in Italy without subsequently undergoing MiCA licensing. Violation of these rules entails not just administrative sanctions, but actual suspension from activity. In addition, Italian regulators, including Consob and the Bank of Italy, have been given enhanced powers to control crypto service providers.

Among the key controls under MiCA in Italy are mandatory financial performance reports, audits, internal compliance, and ongoing monitoring of digital asset transactions. This makes a crypto services licence in Italy not just a formal registration, but a full-fledged admission to the trust infrastructure of the European crypto market.

To be compliant, you need to prove your ability to operate within the regulatory framework, not just submit paperwork. How to work with MiCA in Italy is no longer a matter of choice. It is the only acceptable scenario for anyone who wants to legally provide crypto services, including storage, exchange, brokerage, etc.

MiCA licensing in Italy has become an inherent requirement. And the question is no longer whether to go down this path, but how to do it right.

Is it possible to obtain a MiCA licence in Italy: the answer for new applicants

After 1 July, the possibility to obtain a MiCA licence in Italy remains, but only for new applicants who have not yet started operations. All previously registered providers without a submitted application have lost the right to operate and are subject to de-registration. Therefore, who can obtain a MiCA licence in Italy today is exclusively new cryptocurrency companies that intend to operate in full compliance with the regulations.

MiCA for crypto exchanges in Italy, as well as for other types of CASP (crypto-asset service providers), covers a whole range of activities: storage of crypto-assets, exchange operations, order execution, brokerage and payment services. This includes the launch of DeFi platforms, which, despite their decentralised nature, are required to comply with regulations if the governance structure shows signs of centralised influence.

There is also a separate procedure for obtaining a MiCA licence for crypto wallets in Italy that carry out custodial functions, as well as a MiCA licence for brokers in Italy that mediate or execute orders on trading platforms. Depending on the business model, capital requirements, internal audit and control functions differ.

In order to obtain a licence for a cryptocurrency company in Italy under MiCA, it is necessary to submit a complete dossier and receive approval from Consob. An important condition is that the company is not allowed to start operations before receiving a favourable decision. This applies to all forms of cryptocurrency licensing in Italy, regardless of the scope of the intended work.

The main MiCA requirements in Italy cover capital, team experience, risk management structure and AML/CTF compliance. Particular attention is paid to compliance with the corporate structure, in particular, the ultimate beneficiaries must be disclosed and the governing bodies must be legitimate.

Thus, in order to obtain a MiCA licence in Italy, it is necessary to go through a full-fledged regulatory procedure and prove the transparency of all business processes. This also applies to those who plan to register a service provider with cryptoassets in Italy, including custodians, decentralised platforms and DeFi projects.

Including when it comes to a licence for DeFi projects in Italy, having a legal entity controlling the protocol is key. Even in DAO cases, if there is a managed interface or development team, MiCA applies.

Classification of crypto services under MiCA: which services can be licensed in Italy

The MiCA regulation, applicable in Italy from 2024, provides for a clear classification of crypto asset service providers (CASPs). In order to obtain a MiCA licence in Italy, a company must determine in advance to which type of service its model belongs. This determines the scope of rights and obligations, the level of internal controls, and the minimum capital requirements.

Custodial services are among the most strictly regulated services. They involve the storage of users' crypto-assets with security, backup access and segregation of client funds. Such providers require authorised capital from €150,000 and a specialised IT infrastructure.

The second type is order exchange and execution services. These include brokerage activities, token trading on behalf of the client and crypto exchange between users. Such companies are required to demonstrate platform reliability and transparency of transaction execution processes. The authorised capital is between €50,000 and €125,000, depending on the scale of operations.

A separate category is that of trading venue access providers. These are companies that provide interfaces for placing orders, executing trades and accessing liquidity. Under MiCA, such activities require compliance with conflict of interest rules, registration of all trading algorithms and implementation of independent monitoring.

In addition, crypto services related to analytics, consulting, and multi-currency payment solutions are also subject to regulation. If the project includes elements of fiat settlements, an additional licence under PSD2 may be required.

MiCA is strictly applied in Italy, so combining multiple functions is only possible if there is an organisational separation and the requirements for independence of departments are met. If this principle is violated, a licence may be refused or a valid permit may be revoked. Therefore, before applying, it is necessary to clearly define the business model and confirm the technical readiness for each of the selected functions.

How to obtain a MiCA licence in Italy from scratch: step-by-step guide

For those who have not applied before 30 June 2025, how to obtain a MiCA licence in Italy is no longer a matter of choice, but part of a mandatory strategy for entering the European market. In the absence of a licence, any crypto activity in the country is considered a violation of the law. Hence, filing an application becomes the first step for CASP registration in Italy and further obtaining the status of a licensed provider.

The MiCA regulatory procedure in Italy requires a strictly step-by-step approach from the applicant. All documents must be prepared in a way that is tailored to the specifics of the national regulation and in a format approved by Consob. The process itself, while transparent, contains many legal nuances, from the selection of the corporate structure to the implementation of internal control policies.

Before submitting the application package, it is necessary to conduct an internal diagnosis of the company: whether the business model complies with the basic MiCA requirements for crypto businesses in Italy, whether the beneficiaries have been identified, whether there is an adequate AML/KYC system, whether the IT infrastructure and internal audit functions are fixed. After that, you can move on to dossier preparation.

The application for MiCA in Italy consists of the following steps:

Step 1

Pre-registration preparation. At this stage, the applicant defines the exact category of crypto services to be provided. The applicability of MiCA is assessed, project documents are drafted, and compliance with the CASP structure is analysed.

Step 2

Preparation of documentation. A dossier is formed, including articles of association, governance structure, business model description, financial model, AML regulations, control and monitoring of operations. You can only apply for MiCA in Italy if all sections of the application are complete.

Step 3

Submission of the application to Consob. The regulator conducts a preliminary verification of the package. If there are no critical comments, the review procedure begins. The time period may vary depending on the complexity of the structure, but usually ranges from 3 to 6 months.

Step 4

Registration with the CASP Registry. Once approved, authorisation is granted and the company is added to the official list of crypto service providers. At this stage, CASP is fully registered in Italy as a regulated entity.

Only after inclusion in the register can the service be launched. Without approval, any commercial activity is subject to sanctions.

The terms of obtaining MiCA in Italy depend on the completeness of the information provided and the quality of internal preparation. Formally Consob is obliged to consider the application within 90 working days, but taking into account possible clarifications in practice the procedure can take up to six months.

Important: it is necessary to apply for a MiCA licence in Italy in advance, especially if the company plans to operate in several EU countries at once. The right to cross-border activity is granted only after entering the register, and before that all operations are prohibited.

A licence for a cryptocurrency company in Italy becomes a legal admission to the European market, not just a registration. Preparation for obtaining a licence requires a systematic approach, legal expertise and constant interaction with the regulator.

Financial, organisational, and legal requirements for a MiCA applicant in Italy

At the application stage, regulators first assess whether the applicant meets the MiCA conditions in Italy. The check covers not only the share capital and management structure, but also compliance procedures, IT infrastructure and sources of funding. In order to obtain a MiCA licence in Italy, a cryptocurrency company needs to prove its readiness to operate in a stable and transparent manner in accordance with European standards.

One of the basic requirements is a minimum authorised capital, the amount of which depends on the type of services provided. Regulators pay special attention to the management structure and internal control system. Requirements for applicants for MiCA in Italy include the presence of a competent management team, experienced directors, and an independent compliance controller. Without an implemented internal audit mechanism and a functioning compliance system, it is impossible to obtain authorisation.

The legal parameters of the business must be clearly documented. The applicant needs to provide a detailed description of all business processes as well as AML and KYC policies. It is also required to define measures to protect user data and ensure compliance with GDPR requirements. As part of the application of MiCA provisions in Italy, it is important to demonstrate that all activities are designed to mitigate operational and market risks.

In this case, the key condition remains the transparency of the origin of the funds used to launch the business. This is why cryptocurrency licensing in Italy is often accompanied by in-depth due diligence of investors and beneficiaries. This is especially true for companies with foreign shareholders, as in such cases the attention of regulators is doubled.

In order to issue a licence for a cryptocurrency company in Italy under MiCA, it is also necessary to prove a permanent presence in the country, this can be either a physical office or a management team operating from Italy. The actual management of the business must be from the jurisdiction of incorporation.

Opening a cryptocurrency company in Italy requires not just registration, but the creation of a full-fledged, managed and regulatory-compliant structure. Only if all parameters are met can you expect a favourable decision from Consob.

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How much does it cost to obtain a MiCA licence in Italy

The cost of entering the regulated market depends on the scale of the planned activity, the organisational structure and the amount of consultants involved. For entrepreneurs considering the possibility of obtaining a MiCA-licence in Italy, the key issue is not only the legal requirements, but also the actual financial costs of the entire process. And here it is important to realise that costs are made up of several components: registration fees, capital, support and operational preparation costs.

The official fees for CASP registration under MiCA in Italy range from €5,000-15,000 depending on the nature of the services provided. This includes payment for the administrative procedures at Consob and the publication of the applicant's information in public registers. Additionally, the applicant must cover the cost of bank audits, notarisation of documents and translation of materials if foreign persons are involved in the company.

The basic cost is the establishment of a cryptocurrency company in Italy, including opening a legal entity (usually an S.r.l.), depositing the authorised capital, preparing the articles of association, registering with the tax authorities and opening a bank account. Even in standard mode, such a process takes between 2 and 4 weeks and the budget starts from €8,000.

In order to estimate the total amount, an indicative cost table is provided below:

Item of expenditure	Estimated cost
Government fees (Consob, publications)	€5,000 - 15,000
MiCA-licensing costs in Italy (audit, translations, notary)	€3,000 - 6,000
Company formation, opening of accounts	€8,000 - 12,000

These amounts do not include the mandatory share capital, which cannot be used in operational activities until the licence is approved. Thus, how much a MiCA licence costs in Italy in reality is always an amount exceeding 35-40 thousand euros, even in a basic configuration, without taking into account the maintenance of an office and a team.

Those planning to take out a MiCA licence for a crypto service in Italy should also consider the costs of maintaining compliance: maintaining internal controls, regular audits, filing reports and risk monitoring. In an annual budget, these obligations can amount to another €10,000 or more.

When considered as a whole, obtaining a MiCA licence in Italy is an investment comparable to licensing fintech companies under the payment rules. But the result is not just market access, but credibility, status and the ability to operate legally across Europe.

Taxation of cryptocurrency companies with a MiCA licence in Italy

A company that decides to take out a MiCA licence in Italy automatically becomes a tax resident. This means that it is subject to the general corporate tax rules established at the state and regional level.

The basic rate of income tax (IRES) in Italy is 24%. In addition, a regional IRAP tax is paid, which varies from 3.9% depending on where the business is registered. Together this creates a basic tax burden of around 27.9%, which is higher than the EU average, but is offset by a wide treaty network and preferences for high-tech companies.

Italy also has CFC rules on controlled foreign companies. This is important for cryptocurrency companies with links to offshore structures. MiCA registration in Italy requires disclosure of ultimate beneficiaries, tax transparency and compliance with the requirements for the actual presence of the business in the country.

Tax incentives and temporary rate reductions are possible for startups, especially in the fintech segment. However, they are granted only after agreement with the tax authorities (Agenzia delle Entrate) and in the presence of a certified business plan.

In addition to income tax, cryptocurrency companies are required to withhold income tax from employees, make contributions to social insurance funds and file regular reports. For companies operating in the cross-border model, a system of preliminary tax treaties is in place to avoid double taxation on payments abroad.

Taxes for cryptocurrency companies in Italy that have obtained a MiCA licence thus require careful planning, consultation with tax lawyers and fine-tuning of the corporate structure. In case of non-compliance, especially in terms of transfer pricing or reporting, strict measures by regulatory authorities are possible.

What gives the MiCA-licence in Italy: rights, obligations and opportunities

Obtaining a licence under the MiCA Regulation is not just a formal work permit. It is a full-fledged legal status, providing access to the European crypto services market and recognition by government and financial institutions. For those who decide to obtain a MiCA licence in Italy, the result is a set of rights and obligations that ensure stable and legal operations.

The first and foremost is MiCA licensing through the AFM in Italy (in this case AFM as a generalisation of the role of supervisory authority and Consob in Italy). Once approved, a cryptocurrency company is free to offer its services throughout Europe using the "passporting" mechanism. This means that it is enough to register once and it is possible to legally operate in other EU countries without a second licence.

In addition to cross-border status, it is important to understand what a MiCA licence in Italy gives you within the jurisdiction. Among the key rights:

entering into contracts with Italian legal entities and individuals;
opening bank accounts in the name of a licensed entity;
access to cooperation with fintech platforms and marketplaces;
the right to advertise and promote services within the limits of the law;
participation in European initiatives on digital assets.

Each authorised company is obliged to comply with a list of standards. It is only possible to obtain an authorisation for a crypto service in Italy under MiCA if there is full compliance with AML/KYC, consumer protection, safeguarding of client assets and compliance mechanisms.

Once a company has been able to obtain the status of a licensed provider in Italy, it is required to report regularly to regulators. This includes:

quarterly transaction and customer reports;
auditing of financial statements;
filing of management changes;
reporting of security incidents and system failures;
ongoing confirmation of capital adequacy.

MiCA licensing in Italy creates not only legal opportunities but also a high level of obligations. The regulator has the right to initiate an unscheduled inspection, suspend a licence or even revoke it if serious violations are found.

It is important for the applicant to keep in mind that obtaining a crypto authorisation in Italy is part of a business strategy to build trust. A licence turns a company into a transparent player, enhances its reputation, and is often a prerequisite for integration into international financial chains.

Conclusion

Obtaining a MiCA licence in Italy means not just meeting new standards, but also entering the legal space of the European Union with a legal, trusted status. It is a strategic decision for any cryptocurrency company looking to ensure sustainable development, expand its customer base and gain access to the cross-border market without unnecessary barriers. But the path to a licence requires preparation, legal precision and a willingness to be transparent.

In practice, CASP registration in Italy is not only a matter of compliance with regulations, but also an indicator of the maturity of the business model. This is why many international crypto platforms consider Italy as an entry point into Europe. A strict but clear licensing process and clear procedures make the jurisdiction competitive with other EU countries.

If you are considering entering the Italian market and need support, ask for professional assistance in applying for a MiCA licence in Italy. We will provide full support: from assessing the readiness of your project to submitting the final dossier and defending your interests before the regulators. Legal business in the EU starts with a solid legal foundation, and it is the MiCA licence that allows you to build it with confidence.