**[Italy Consob Warns About MiCAR Transition Period, VASPs Must Transform into CASPs]** The Italian Securities Market Authority (Consob) has issued a notice reminding that, under the European Union's Markets in Crypto-Assets Regulation (MiCAR), virtual asset service providers (VASPs) currently registered with Italy's OAM must submit applications to transition into regulated crypto-asset service providers (CASPs) by December 30, 2025 (UTC+8). Failure to do so will result in the inability to continue operations from that date, with a final deadline of June 30, 2026 (UTC+8). Consob requires VASPs that have not applied for CASP authorization to cease operations before the deadline, refund user funds, and disclose future plans or exit arrangements to users. Investors are advised to confirm whether their partnered VASPs intend to apply for a CASP license and check if they are listed in the ESMA or OAM registries.