Italy Crypto License — OAM Registration 2026

Euro 50 banknotes spread — Italy Crypto License: OAM Registration & MiCA CASP 2026

Overview

Italy's Crypto Framework: OAM Register & MiCA CASP

Italy regulates crypto virtual asset service providers through a two-tier system. The first tier is mandatory OAM registration — introduced by an amendment to Legislative Decree 231/2007 (Italy's AML legislation) via the Ministry of Economy and Finance. OAM (Organismo Agenti e Mediatori) maintains a public register of VASPs that are permitted to provide crypto services in Italy. Registration confirms AML compliance registration but is not a full supervisory license.

The second tier, for full MiCA CASP authorization providing EU passporting rights, involves Banca d'Italia and Consob as the joint Italian competent authorities. Banca d'Italia supervises custody and payment-related crypto services, while Consob oversees exchange, trading, and investment-related crypto activities. This dual-authority structure mirrors Italy's existing financial regulatory division between the two bodies.

Italy has one of Europe's most active crypto user bases, with an estimated 3 million+ users and growing institutional adoption. Domestic platforms including Conio (backed by Poste Italiane), Young Platform, and the Italian operations of international exchanges have established a significant market. Italy's 24% IRES corporate income tax plus 3.9% IRAP regional tax is offset by market size and the relatively fast OAM registration path.

Two-track structure: OAM registration (fast, 1–3 months, EUR 350–500) is required for any VASP targeting Italian customers. MiCA CASP authorization (Banca d'Italia + Consob, 6–12 months, EUR 150,000 capital) is required for EU passporting. Both may be pursued in parallel, with OAM registration enabling immediate Italian market access while the CASP authorization is pending.

License Tracks

OAM Registration vs. MiCA CASP Authorization

Track	Regulator	Scope & Passporting
OAM VASP Registration	OAM (register) + MEF (oversight)	Italian market access; AML compliance registration; no EU passport
MiCA CASP Authorization	Banca d'Italia (custody/payment) + Consob (exchange/investment)	Full EU passporting into 27 member states; higher capital requirements
ART / EMT Issuance	Banca d'Italia (EMTs) + Consob (ARTs)	Token issuance under MiCA Titles III and IV; separate authorization

Requirements

Italy OAM & MiCA CASP — Key Requirements

Legal Entity (OAM)

Italian S.r.l. or foreign branch

S.r.l. min. EUR 1 share capital; foreign entities must register Italian branch

Capital (MiCA CASP)

EUR 150,000 minimum

Per MiCA Article 67; paid-up at CASP authorization application

OAM Application

Online application to OAM

Corporate documents, AML framework, management details, fee payment

AML/CFT Program

Per Decree 231/2007

KYC/CDD, transaction monitoring, customer risk assessment, SAR procedures

Management (OAM)

Good repute requirements

No criminal convictions; directors meet OAM minimum professional standards

Management (CASP)

Full fit & proper assessment

Banca d'Italia / Consob background checks on directors and UBOs

IT Security (CASP)

Cybersecurity framework

Business continuity, DORA-aligned IT risk management for CASP

Crypto Capital Gains

26% on gains > EUR 2,000

Applicable to individual Italian customers; corporate IRES applies to entity

Process

How to Get an Italy Crypto License — Step by Step

Incorporate Italian S.r.l. (or Register Branch)

Incorporate an Italian Società a Responsabilità Limitata (S.r.l.) via a notary — minimum share capital of EUR 1 (though practical operation requires adequate capitalization). Alternatively, a foreign EU entity may register an Italian branch (succursale). Obtain a codice fiscale (tax identification number) and register with the Italian Business Register (Registro delle Imprese).

2–4 weeks

Develop AML/CFT Program per Decree 231/2007

Prepare a comprehensive AML/CFT framework compliant with Italian AML legislation. This includes KYC/CDD procedures, customer risk-rating methodology, transaction monitoring rules, Travel Rule compliance procedures, suspicious transaction reporting workflows, and data retention policies per GDPR. Appoint an AML compliance officer (Responsabile Antiriciclaggio).

2–4 weeks

Submit OAM Registration Application

File the VASP registration application with OAM through its online portal. Include corporate documentation, description of crypto services, AML framework summary, management declaration of good repute, and payment of the OAM registration fee (EUR 350–500). OAM acknowledges receipt and reviews completeness. The public OAM register listing follows within 1–3 months.

1–3 months

Commence Italian Operations (OAM registered)

With OAM registration confirmed, commence providing crypto services to Italian customers. Maintain ongoing AML compliance obligations, transaction monitoring, and periodic OAM reporting. Begin preparation of MiCA CASP authorization application with Banca d'Italia and Consob if EU passporting is required — this is a longer and more complex process.

Ongoing from Month 3

MiCA CASP Authorization (Banca d'Italia / Consob)

For EU passporting, submit the MiCA CASP authorization application to Banca d'Italia and/or Consob (depending on activities). This requires EUR 150,000 minimum capital, comprehensive governance documentation, full business plan, IT security framework, and fit & proper documentation for all directors and significant shareholders. Authorization typically takes 6–12 months.

6–12 months (CASP)

Costs

Italy Crypto License — Full Cost Breakdown

Item	Details	Approx. Cost
S.r.l. formation	Notary, commercial register, codice fiscale	EUR 1,000–3,000
OAM registration fee	Non-refundable OAM registration fee	EUR 350–500
Legal & AML preparation	AML framework, OAM application, Italian counsel	EUR 5,000–20,000
Annual compliance	AML officer, OAM annual reporting, legal retainer	EUR 10,000–25,000/yr
MiCA CASP preparation (optional)	Full CASP application with Banca d'Italia / Consob	EUR 20,000–60,000
Year 1 Total — OAM only (excl. capital)	Formation, OAM fee, legal, compliance	EUR 18,000–50,000

FAQ

Italy OAM Crypto License — Common Questions

OAM (Organismo Agenti e Mediatori) registration is mandatory for crypto VASPs operating in Italy, introduced by an amendment to Legislative Decree 231/2007. It is a public register maintained by OAM that confirms AML compliance registration. It is not a full license — it is a registration requirement. OAM operates the register but does not supervise day-to-day compliance. For full MiCA CASP authorization in Italy, Banca d'Italia and Consob are the competent authorities.

Yes. Any entity offering crypto asset services to customers in Italy must be registered in the OAM public register of VASPs. This applies both to Italian entities and to foreign entities targeting Italian customers. Operating without OAM registration is an administrative violation. For MiCA CASP authorization providing full EU passporting, the separate authorization process with Banca d'Italia and Consob applies.

Under MiCA, Italy has designated Banca d'Italia and Consob as the joint competent authorities for CASP authorization. Banca d'Italia supervises payment-related services and custody, while Consob oversees exchange and investment-related crypto activities. This dual-authority structure reflects Italy's existing financial regulatory framework.

OAM registration typically takes 1–3 months from submission of a complete application. The process is relatively straightforward — OAM reviews the application, confirms the entity's AML compliance framework, and adds the entity to the public register. The main delay factor is the preparation of required documentation, particularly the AML/CFT program.

Italy introduced a 26% capital gains tax on crypto assets as of January 1, 2023, applicable to gains exceeding EUR 2,000 per year. Corporate entities pay standard IRES (24%) plus IRAP (3.9%) on crypto-related income. Italy also introduced a tax on crypto holdings for residents. The tax framework has been one of the more comprehensive in the EU and continues to evolve.

OAM registration costs approximately EUR 5,000-15,000 depending on your business model and complexity, while MiCA CASP authorization typically ranges from EUR 20,000-50,000 including application fees and professional advisory costs. Additional ongoing compliance costs including audit fees and regulatory reporting can add EUR 10,000-25,000 annually. These figures do not include legal representation or technical infrastructure investments required for compliance.

You must provide articles of association, proof of registered office in Italy, detailed business plan, AML/KYC policies, ownership structure documentation, CVs of key management, financial statements, and technical specifications of your platform. For MiCA CASP authorization, additional requirements include governance arrangements, risk management framework, and cyber security incident reporting procedures as per EBA guidelines.

Yes, a MiCA CASP authorization from Italy allows you to operate throughout the EU under passporting rights, eliminating the need for separate licenses in each member state. However, you must comply with local AML/KYC requirements and reporting obligations in each jurisdiction where you provide services. OAM registration only permits operations within Italy and does not grant EU-wide authorization.

You must conduct ongoing AML/KYC monitoring, file quarterly reports with the competent authority, maintain minimum capital requirements set by MiCA, perform annual audits, and implement cyber security controls meeting regulatory standards. Additionally, you must report any material changes to your business operations within 10 days and conduct transaction monitoring to detect suspicious activity. Failure to maintain these obligations can result in fines up to EUR 10 million or 10 percent of annual revenue.

Licensed crypto businesses in Italy are subject to corporate income tax (IRES) at approximately 24 percent plus regional surcharges, and must register for VAT on certain services. Capital gains tax on cryptocurrency holdings is approximately 26 percent for individuals, but corporate entities may benefit from different treatment depending on their business classification. It is essential to consult with an Italian tax specialist as MiCA compliance does not automatically determine your tax obligations.

You should establish a primary business account with a reputable Italian or EU bank that explicitly supports crypto-related activities, as many traditional banks still restrict cryptocurrency services. Additionally, securing a backup correspondent banking relationship is recommended due to ongoing banking sector caution toward crypto operators. Some applicants also establish segregated accounts for customer funds separate from operational accounts to simplify compliance and satisfy regulatory expectations.

If your MiCA CASP application is rejected, you have the right to appeal to the Bank of Italy within 30 days of notification, providing additional documentation or clarification. The appeal process typically takes 60-90 additional days for review. If rejected again, you must cease all regulated activities in Italy and the EU, though you may reapply after addressing the specific deficiencies cited by the authority.

Compare European Licences

Related European Crypto Jurisdictions

6–12 months5% eff. tax

EU passportAll 27 states

◆ KEY METRICS

Italy Crypto License Requirements

€50,000

Minimum Capital

90 days

Processing Timeline

€5,000–€15,000

Registration Fee

26%

Corporate Tax Rate

OAM + Banca d'Italia

Primary Regulators

EU MiCA Aligned

Key Benefit

◆ PROCESS TIMELINE

Italy License Application Steps

Week 1–2

Documentation Preparation

Compile articles of association, compliance policies, organizational structure, AML/KYC procedures, and beneficial ownership declaration per Legislative Decree 231/2007.

Week 3–4

OAM Pre-Registration Filing

Submit formal application to OAM (Organismo Agenti e Mediatori) with complete dossier including board member CVs, proof of €50,000+ capital, and anti-money laundering officer designation.

Month 1–2

OAM Technical Review

OAM conducts completeness assessment, requests clarifications on governance, IT infrastructure, and compliance framework. Company typically receives Q&A round 1 within 30 days.

Month 2–3

Banca d'Italia Coordination

OAM forwards approved dossier to Banca d'Italia for final prudential oversight under MiCA CASP framework (Crypto Asset Service Provider). Regulatory sign-off typically takes 30–45 days.

Month 3

License Issuance & Registration

OAM issues formal registration certificate and updates the public register. Company receives unique OAM code and may commence VASP operations under MiCA compliance.

Italy Crypto License: OAM Registration & MiCA CASP 2026