Today in crypto: Italy’s markets regulator set a firm MiCA deadline, forcing virtual asset service providers to seek authorization or exit the market by Dec. 30, Bitwise’s Matt Hougan said Strategy won’t need to sell its Bitcoin to stay afloat, and the US Commodity Futures Trading Commission (CFTC) approved spot crypto products on regulated futures exchanges.
Italy sets hard MiCA deadline for crypto platforms to comply
Italy’s securities regulator set a firm timetable for applying the European Union’s Markets in Crypto-Assets Regulation (MiCA) in the country, warning that unlicensed crypto platforms face a deadline to either seek authorization or leave the market.
The move directly affects virtual asset service providers (VASPs) currently operating under Italy’s regime and the retail investors who use them.
In a news release published Thursday, Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB) reminded the market that Dec. 30 is the last day VASPs registered with the Organismo Agenti e Mediatori (OAM) can operate under the existing national framework.
After that date, only entities authorized as crypto asset service providers (CASPs) under MiCA, including firms passporting into Italy from another EU member state, will be allowed to offer crypto‑asset services in the coun
Strategy won’t be forced to sell Bitcoin, says Bitwise CIO
Strategy (MSTR) won’t be forced to sell Bitcoin (BTC) to stay afloat if its share price drops, and those who say otherwise are “just flat wrong,” Bitwise chief investment officer Matt Hougan said on Thursday.
Fears that Strategy could sell its massive Bitcoin haul flared after its CEO Phong Le said last week that it could offload some of its stash as a “last resort” if Strategy’s market value slipped below the value of its Bitcoin holdings.
But Hougan said Strategy has a lot of leeway even if its stock drops below its NAV as it has “no debt due until 2027 and enough cash to cover interest payments for the foreseeable future.”
He explained that Strategy “needs to pay about $800 million a year in interest, and it needs to convert or roll over specific debt instruments as they come due,” but the company has $1.4 billion in cash “meaning it can make its dividend payments easily for a year and a half.”
He added that Bitcoin trading around its current price of $92,000 is “24% above the average price at which Strategy acquired its stash ($74,436).”
“I just don’t see it happening,” Hougan said.
CFTC greenlights spot crypto trading on US exchanges
The US Commodity Futures Trading Commission has given approval for spot cryptocurrency products to trade on federally regulated futures exchanges.
In a Thursday notice, Acting CFTC Chair Caroline Pham said the move was in response to policy directives from US President Donald Trump. She added that the approval followed recommendations by the President’s Working Group on Digital Asset Markets, engagement with the US Securities and Exchange Commission and consultations from the CFTC’s “Crypto Sprint” initiative.
“[F]or the first time ever, spot crypto can trade on CFTC-registered exchanges that have been the gold standard for nearly a hundred years, with the customer protections and market integrity that Americans deserve,” said Pham.
Pham, who became acting CFTC chair in January amid Trump’s taking office, is expected to step down once the US Senate confirms a replacement. The nomination of Michael Selig, an SEC official whom Trump nominated to chair the CFTC, is expected to head to the Senate floor for a vote soon after moving out of committee.
