Cryptosmart has obtained authorization to operate as a CASP (Crypto Asset Service Provider) under the MiCAR regulation. The provision was released by Consob with resolution no. 24047 of 24 June 2026, having consulted the Bank of Italy for the aspects within its competence, at the end of the investigation started with the request presented on 15 December 2025.
With the authorization, the company is authorized to provide crypto-asset custody and administration services, exchange of crypto-assets with funds and with other crypto-assets, order execution, placement and transfer of crypto-assets on behalf of clients.
Because it is an important date
The timing is not coincidental. June 30, 2026 marks the expiration of the European transitional regime: from that date operators without CASP authorization can no longer offer services related to digital assets to customers resident in the European Union. In a context in which the Italian authorization process is considered among the most rigorous and selective in Europe, obtaining the license allows Cryptosmart to operate with full continuity in the new regulatory framework.
The company, owned by Banca Popolare di Cortona, is thus positioned among the regulated operators capable of guaranteeing operational continuity after the regulatory crackdown.
“Obtaining the MiCAR authorization from Consob and the Bank of Italy represents a historic milestone for us and, at the same time, a starting point – declares Carlotta Zola, President of the Board of Directors of Cryptosmart. – It is the recognition of a path built entirely on the national territory, based on high standards of security, governance and compliance. It means being able to offer our customers an Italian ecosystem, regulated and supervised, in which to store and manage their digital assets with the same trust they reserve for traditional finance.”
The tax issue: how the administered regime works
Alongside the MiCAR license, an element that distinguishes Cryptosmart’s offering concerns tax management. The company has integrated the Administered Tax Regime free of charge, taking on the role of withholding tax on capital gains in cryptocurrencies: it calculates, withholds and pays the taxes due on profits made by customers to the Revenue Agency. For those who activate the service, this means no longer having to include crypto-assets in their tax return or calculate taxes independently – a mechanism similar to that already in use for decades with brokers and financial intermediaries for shares, ETFs and bonds.
“In recent years, taxation on cryptocurrencies in Italy has become not only complex but also burdensome for taxpayers – explains Alessandro Ronchi, founder and managing director of Cryptosmart. – With the administered regime, the customer who activates the service no longer has any declaration obligation linked to the crypto-assets held on the exchange: it is Cryptosmart, as withholding agent, who takes on the burden of calculating, withholding and paying the taxes to the Treasury. With the MiCAR authorization we bring this model within a regulated European perimeter, combining operation, safety and fiscal management in a single solution.”
The reference market
According to estimates from the Blockchain & Web3 Observatory of the Polytechnic University of Milan, as of January 2026, 7% of Italian consumers (around 2.8 million people) hold crypto-assets. The service is aimed not only at users already active on the platform, but also at those who currently manage their cryptocurrencies on international exchanges or self-custodial wallets: by transferring assets to Cryptosmart it is possible to access an Italian operator with assistance in Italian and integrated tax management.
“The MiCAR authorization is proof that we can innovate while remaining fully within the rules – concludes Ronchi. – Today we can offer Italians what was missing until now: a national operator, regulated and supervised, capable of managing the entire life cycle of the investment in cryptocurrencies, from custody to the relationship with the tax authorities.”
