Italian regulators are rethinking their tools for supervision just as the OAM crypto database, long used in the fight against money laundering, is being dismantled.
Alfonso reflects on the end of the OAM registry
ROME, March 2, 2026, 15:14 – There is a “bit of regret” but no desire for polemic over the shutdown of a fundamental information hub built by the OAM in recent years. The registry collected granular data on Italian virtual asset operators and helped authorities monitor suspicious flows in the digital asset sector.
The president of OAM, Federico Alfonso, described the end of the obligation for operators to transmit data as a loss of an observatory that had been “built over years”. However, he stressed that the decision is linked to the transition toward the European passport regime introduced by the EU MiCAR regulation, which is reshaping the entire framework for crypto markets across the Union.
According to Alfonso, the now-suspended oam crypto database had enabled authorities to understand in detail “the operations of registrants” and to strengthen tools against illicit activities. Moreover, it supported the broader fight against money laundering and financial crime, particularly where cross-border crypto flows were involved.
An observatory years in the making
Alfonso spoke during the presentation of the book edited by the OAM research office, titled ‘Cryptocurrencies, demand, supply and regulation‘. In that context he firmly defended the work carried out by the body “in these three years” in which Italian legislation entrusted it with the special register for virtual asset service providers (VASP).
The register covered entities now set to transform into CASP under MiCAR. Moreover, it created a unique database of customer numbers, transaction values and crypto wallet activity that law enforcement and supervisory authorities could tap into. This wealth of data, Alfonso implied, will not be immediately replicated under the new framework.
“We made investments, provided data and collaborated with law enforcement, carrying out our role professionally,” Alfonso recalled, underlining the operational and technological effort made by OAM. That said, the end of the vasp data transmission requirement also signals a shift from a national registry model to a harmonized European system.
Law enforcement access and consumer protection
Under the new regulation, one central question concerns how authorities will access key information. Alfonso warned that, if direct law enforcement access to national databases is removed and detailed data flows on customers, transaction values and crypto wallets are no longer available, investigative capabilities could be altered.
However, he also emphasized that Italian consumers will not be left exposed. On the contrary, he argued that “Italian consumers will have greater protections” thanks to the high prudential and organizational requirements that MiCAR demands of crypto asset service providers. This new framework aims to elevate consumer protection crypto standards across the entire European market.
The future architecture of oversight will rely less on a single domestic registry and more on coordinated supervision. Moreover, as Alfonso pointed out, the closure of the OAM registry closure phase does not mean a retreat from anti-crime efforts but a reconfiguration of how those efforts are structured at the EU level.
Cooperation among authorities after the end of the database
The dismantling of the national observatory marks the end of crypto database obligations that once fed a central hub for Italian crypto oversight. However, the MiCAR European passport is designed to replace fragmented national regimes with a single authorization that works across all member states.
In this new environment, the fight against illicit finance will depend heavily on collaboration. The UIF has recently underlined that the fight against money laundering will increasingly have to be based on close cooperation among authorities, both within Italy and across borders.
Ultimately, while the loss of the long-standing national database may reduce some forms of transparency, the evolving European framework seeks to compensate with stronger, harmonized rules and more robust cross-border coordination.
Source: https://en.cryptonomist.ch/2026/03/05/oam-crypto-database-micar-overhaul/
