Jurisdiction reference
Italy
Regulator: OAM / CONSOB. License/registration context: Registration. 171 VASP/entity records are tracked by Plexo Institute in Italy. Official registry source: EU Markets in Crypto-Assets Regulation (MiCA). Data last updated: 2026-08-28.
Italy implemented MiCAR through Legislative Decree no. 129 of September 5, 2024 (MiCAR Decree), bringing EMTs and ARTs under Italian oversight from June 2024 and establishing a CASP licensing regime via Consob and Bank of Italy. The regulators now enforce reserve requirements, segregated custody, and severe penalties (6 months–4 years imprisonment + fines) for unlicensed issuance or trading. Despite this, actual stablecoin issuance remains limited, with only a few (like Circle's USDC) securing licenses; banks and intermediaries remain cautious.
Regulatory Status
- Jurisdiction code
- IT
- Regime
- Registration
- Regulator
- OAM / CONSOB
- Governing law
- D.Lgs. 90/2017 / MiCA
- Travel Rule
- Enforced
- Tracked entities
- 171
- Recognized stablecoin backing
- fiat-backed, crypto-backed, commodity-backed
- Yield-bearing stablecoins
- Restricted
- Currency
- EUR
Regulatory approach
Consob grants authorization to stablecoin issuers and CASPs, reviews whitepapers, and enforces supervisory and penalty regulation. It is the national securities and markets regulator, supervising investment services, trading venues, disclosures, and conduct standards, including for virtual asset service providers where applicable. Italy imposes severe criminal penalties for unlicensed stablecoin issuance: 6 months to 4 years imprisonment plus fines. Designates Consob and Bank of Italy as supervisory authorities. Implements fund segregation requirements and insolvency/crisis management procedures for CASPs. Existing VASPs registered with OAM as of Dec 27, 2024 can continue until Dec 30, 2025 under transitional rules.
Relationship Graph
Jurisdiction FAQ
Who regulates Italy?
The current Plexo Institute record lists OAM / CONSOB as the regulator for Italy.
How many VASPs are tracked in Italy?
171 VASP/entity records are tracked by Plexo Institute in Italy.
What is the Travel Rule status in Italy?
The current Plexo Institute record lists the Travel Rule status for Italy as Enforced.
Source Evidence
This profile is compiled from official legislation and regulator records. Source confidence: official source evidence.