Italy

Regulated Partly Confirmed

Italy applies MiCA through Consob and the Bank of Italy. CASPs need MiCA authorisation or passporting, and individual crypto disposal gains are subject to Italy's dedicated tax and reporting rules.

Consob / Banca d'Italia

Total Laws (incl. applicable EU-wide)

Effective Laws

At a Glance

Is holding crypto allowed?

Allowed

Is crypto trading allowed?

Regulated

Is P2P trading allowed?

Allowed

Are crypto payments allowed?

Allowed

Is crypto legal tender?

Is mining allowed?

Allowed

Is staking allowed?

Regulated

Is DeFi participation allowed?

Regulated

Are stablecoins allowed or regulated?

Regulated

Activity Status Matrix

Activity	Status	Details
Holding Crypto	Allowed	Is holding crypto allowed?
Crypto Trading	Regulated	Is crypto trading allowed?
P2P Trading	Allowed	Is P2P trading allowed?
Crypto Payments	Allowed	Are crypto payments allowed?
Legal Tender	No	Is crypto legal tender?
Mining	Allowed	Is mining allowed?
Staking	Regulated	Is staking allowed?
DeFi	Regulated	Is DeFi participation allowed?
Stablecoins	Regulated	Are stablecoins allowed or regulated?
NFTs	Regulated	Are NFTs allowed or regulated?
Token Launches	Regulated	Are token launches allowed?
Crypto Advertising	Regulated	Is crypto advertising allowed?
Banking Access	Regulated	Do crypto businesses have banking access?

Regulation Overview

MiCA regulates crypto-asset issuers, stablecoins, public offers and crypto-asset services in Italy. Consob and the Bank of Italy divide conduct, authorisation and prudential responsibilities. Italy's former OAM VASP transition ended in 2026. Security tokens remain governed by financial-instrument rules. National tax law separately addresses crypto gains, monitoring and the tax on the value of crypto assets.

Tax Information

From 2026, qualifying individual gains and other proceeds from crypto-asset disposals are generally subject to a 33% substitute tax under the updated rules, with reporting and value-tax obligations potentially applying.

Individual Tax Treatment

Individuals must track acquisition cost, disposals, transfers and year-end holdings. The annual return includes dedicated crypto sections; exemptions and stablecoin-specific treatment require current advice.

Business Tax Treatment

Corporate and professional activity follows business-income and accounting rules. CASP reporting, VAT, payroll and withholding consequences depend on the service.

Agenzia delle Entrate

Business & Licensing

CASPs require MiCA authorisation by an EU authority and the appropriate Italian notification/passport. Stablecoin issuers and public offers must meet MiCA requirements.

AML / KYC Requirements

CASPs are subject to Italian and EU AML/CFT, travel-rule, customer due diligence, beneficial-owner, monitoring, recordkeeping and suspicious-reporting duties.

Primary Regulator

Consob / Banca d'Italia

consob.it

Crypto Laws & Regulations in Italy

Regulationeffective

Legislative Decree 5 September 2024, No. 129

Published: September 5, 2024Effective: September 14, 2024Ref: D.Lgs. 5 settembre 2024, n. 129

Italy adapts national law to MiCAR, allocates competence between Consob and Banca d'Italia, and creates domestic investigation, enforcement, sanction and transition rules.

Current state: In force from 2024-09-14 alongside directly applicable MiCAR

LicensingEnforcementExchangesConsumer Protection

Official Source

Tax Ruleeffective