CASP COMPLIANCE

In compliance with Regulation (EU) 2023/1114 on crypto-asset markets (MiCAr), the European Community has standardized the rules governing activities involving the issuance, sale, custody, and exchange of crypto-assets.
Tesora SpA has always supported these rules and has worked to collaborate with the Authorities to disseminate the need for stable and uniform regulation aimed at improving the quality of our work.
In the Italian landscape, Article 45, paragraph 1, of Legislative Decree 129/2024 establishes that before the entry into force of the MiCAr regulation, scheduled for 30 June 2026, there is a transitional period for operators who already legally operate as VASPs. They must submit an application to the Authority by 30 December 2025, expressing their desire to be authorized to operate as CASPs (Crypto-Asset Service Providers).
Tesora SpA currently carries out its business activities towards customers, regulated by the regulations applicable to VASPs by obtaining registration in the Register kept by OAM with the registration number PSV2.
Therefore, in light of the above, all VASPs are permitted to continue operating legally provided they submit a formal application to the Authority declaring their intention to obtain a CASP license by December 30, 2025.

WHAT THIS MEANS FOR YOU AS A TESORA USER
Tesora has already initiated an initial discussion with the Authority to better refine the information required for submitting the authorization application. Therefore, services will currently be provided regularly pending the outcome of the application, which was submitted within the required timeframe. As a Tesora user, you won’t have to worry about anything and can continue to use the services without any interruption. We will keep you informed of any significant changes that may occur during this transitional period.

WHAT IS TESORA DOING TO COMPLY WITH MiCAR?
TESORA, in compliance with the deadlines imposed for the transitional period, submitted a formal application to the Authority in December 2025.
Compliance with the procedures set forth in the MiCAr Title V regulation, aimed at CASPs, determines some additional activities that Tesora SpA is implementing both in customer communication processes and in the development of some functions on the website and APP.
We have also increased our Italian workforce by adding personnel to support both the compliance and customer service departments.
These activities are fully aligned with the business plan that Tesora had already approved to increase its market presence and align traditional finance with technological finance. This ambitious development plan will continue as planned, with significant adjustments throughout 2025-2026.

SENDING COMMUNICATIONS ON THE TRANSITION FROM VASP TO CASP
Tesora welcomed this regulation with great enthusiasm, having engaged in constant dialogue with the authorities over the years and working hard to contribute to facilitating a regulation that would increase the level of customer protection.
Italy has finally begun the process of adapting to this important market, and we are constantly working with the Authority to provide all the information needed to improve the quality and efficiency of operators during this challenging time.
Tesora is committed to providing its customers with all the necessary information on the process leading to CASP qualification in a timely and early manner.
In any case, you can still communicate with us directly via certified email (PEC) or by email at info.exchange@youradn.com.

CAN I INCUR FINANCIAL LOSSES AS A RESULT OF THIS AUTHORIZATION PROCESS?
There are no changes of any kind, either in terms of protecting the assets held in the Tesora wallet, or in terms of their loss of value. There are also no issues regarding the management and use of NFT tokens. The operations and services we have provided to date will continue and will not undergo any changes. Certainly, based on the outcome of the application, which will be handled as expected following the procedures of the MiCAr regulation and thanks to the Authority’s valuable support, we will take the necessary steps to guarantee your assets and their security, as we have always done in previous years.

Last modified December 23, 2025