The CONSOB-issued CASP authorisation attaches to the legal entity, not its shareholders. A share-purchase transfers control of the licensed firm and inherits whatever supervisory file CONSOB and Banca d’Italia have built on it. The provvedimento itself does not move to a new vehicle; the entity moves to a new owner, subject to the prior partecipazione-qualificata approval. That approval, examined by Banca d’Italia separately from the licence file CONSOB already cleared, looks at the proposed acquirer’s reputational standing, financial soundness, source of funds and governance.

Yes. An Italian CASP authorisation is a MiCA authorisation, and MiCA authorisations passport into other EU and EEA member states by notification through CONSOB under Article 65. The acquired entity can offer its authorised crypto-asset services into Germany, France, Spain, the Netherlands and the rest of the EEA without re-authorisation in each member state. The substance and governance must remain anchored in Italy; passporting expands the addressable market without changing the home-state supervisor.

For most acquirers, yes. A de novo CASP application at CONSOB runs roughly 6 to 9 months from a complete file (after the substance build: registered office, Italian-resident senior management, banking arrangements, internal-controls framework). Acquiring an authorised CASP collapses that into the Banca d’Italia qualifying-holding clock, which is shorter, runs on a defined statutory timeline, and can be filed in parallel with commercial diligence. The trade-off is what you are buying: target-specific diligence (legacy contracts, OAM-register history, AML programme maturity) becomes the principal risk rather than application risk.

CONSOB and Banca d’Italia maintain the public list of MiCA-authorised CASPs operating in Italy, alongside the EU-wide register that ESMA publishes under Article 109 of MiCA. Both are updated as authorisations are granted, varied or withdrawn. The legacy OAM operatori in valute virtuali register continues to show transitional VASP registrants, but its operational relevance ends on 1 July 2026 when the transition window closes. Cadena reconciles all three sources on every Italian mandate so the licensing status of a target is current to the day of file opening.

Under Article 42 of MiCA and the joint EBA/ESMA Guidelines on prudential assessment of qualifying holdings, prior approval by Banca d’Italia is required for acquisitions crossing 10%, 20%, 30% or 50% of voting rights or capital, or any other transaction that confers controlling influence. The notification covers acquirer identity, source of funds, financial soundness, fit-and-proper of proposed directors and key function holders, the post-acquisition business plan, and AML risk indicators. The decision clock starts when the file is complete; the practical objective is to land complete on first submission rather than re-file.

Yes — a non-EU acquirer can hold 100% of the share capital subject to Banca d’Italia’s qualifying-holding approval. There is no EU-residency requirement on shareholders, but the senior governance arrangements must show that the entity’s mind and management are exercised from Italy. In practice that means a board with credible Italian or EU representation, a managing director resident in Italy, internal control function heads in or commuting reliably to the Italian office, and decision-making documented as taking place inside the country. The prudential authority pays close attention to the substance side; an empty-shell governance plan is the most reliable way to extend the assessment timeline.