---
type: country
domain: crypto-regulation
status: stable
tags: ["crypto-regulation", "europe", "fatf", "legal"]
aliases: ["IT", "ITA", "Italia"]
created: 2026-06-01
updated: 2026-01-20
compile_into: ["[[country--italy]]"]
sources:
  - name: "CONSOB"
    url: "https://www.consob.it"
    type: "official"
  - name: "EU [[concept--mica|MiCA]] Regulation"
    url: "https://eur-lex.europa.eu"
    type: "official"
---

# 🇮🇹 [[country--italy|Italy]] (IT) — Crypto Regulation

> Italy has a clear and comprehensive regulatory framework for cryptocurrencies, including the Markets in Crypto-Assets Regulation (MiCAR) and the Italian VASP-to-CASP Transition Decree. The regulatory authorities actively monitor and combat financial fraud and unauthorized crypto activities.

## Overview

| Field | Value |
|-------|-------|
| Status | Legal |
| Risk Score | 25/100 (Low Risk) |
| Enforcement Level | Moderate |
| Region | [[domain--europe|europe]] |
| Currency | [[entity--eur|EUR]] |
| Adoption Rank | #27 |

## Tax

| Type | Rate |
|------|------|
| Capital Gains (Personal) | 26% substitute tax on crypto capital gains for 2025 tax year (reporting gains earned in 2024/2025); 33% substitute tax applies to gains realized from January 1, 2026 onwards. The €2,000 annual exemption threshold was abolished effective January 1, 2025 — all gains are now taxable regardless of amount. |
| Capital Gains (Corporate) | 24% IRES + 3.9% IRAP |
| VAT on Crypto | No |

VAT applies to crypto transactions. Specific tax rates for capital gains, staking, mining, and airdrops are not explicitly stated in the provided text.

## Licensing

| Field | Value |
|-------|-------|
| Required | Yes |
| Regulator | [[entity--consob|CONSOB]] / Banca d'Italia |
| Framework | Markets in Crypto-Assets Regulation (MiCAR / EU 2023/1114); Legislative Decree 129/2024 (Italian MiCA implementation); Legislative Decree 95/2025 (transitional deadline extension) |
| Ease | medium |
| Cost | $25,000 - $200,000 |
| Timeline | 4-12 months |

Licensing is regulated under MiCAR and the Italian VASP-to-CASP Transition Decree, with medium difficulty to obtain licenses.

## AML / KYC

| Field | Value |
|-------|-------|
| KYC Required | Yes |
| Travel Rule | Yes |
| [[concept--fatf|FATF]] Member | Yes |
| FATF Status | regular_follow_up |

## DeFi

**Status:** regulated

DeFi activities are regulated under the existing crypto regulatory framework in Italy.

## Stablecoins

**Status:** regulated

Stablecoins regulated under MiCA as EMTs (e-money tokens) or ARTs (asset-referenced tokens). EMT issuers must be authorized credit or e-money institutions. Italy's 2026 budget law introduced a tax carve-out for MiCAR-compliant euro-denominated stablecoins at 26% vs 33% for other crypto.

## NFTs

**Status:** Unclear

MiCA excludes unique NFTs. CONSOB follows ESMA classification guidance. Italy's art market makes NFT classification particularly relevant.

## Mining

| Field | Value |
|-------|-------|
| Legal | Yes |
| Electricity Cost | $0.2/kWh |
| Renewable Energy | 35% |
| Climate | temperate |
| Infrastructure | good |

Mining is legal with moderate electricity costs and a significant share of renewable energy. Infrastructure quality is good.

## Geopolitics

| Field | Value |
|-------|-------|
| Stability | stable |
| Sanctions | No |
| Corruption Index | 56/100 |
| Ease of Business | moderate |
| Internet Freedom | free |
| Banking Access | open |

## Enforcement

CONSOB has blocked unauthorized crypto websites and issued investor warnings. OAM has enforced VASP registration requirements.

## CBDC Status: in_development

## FAQ

### Is cryptocurrency legal in Italy?

Italy has a clear and comprehensive regulatory framework for cryptocurrencies, including the Markets in Crypto-Assets Regulation (MiCAR) and the Italian VASP-to-CASP Transition Decree. The regulatory authorities actively monitor and combat financial fraud and unauthorized crypto activities.

### What is the FATF status of Italy?

Italy is classified by FATF as: regular_follow_up.

### Are VASPs licensed in Italy?

Yes, licensing is required for VASPs.

### What is the AML/KYC regime in Italy?

KYC is mandatory for crypto businesses.

---

*Data source: [Soken Crypto Legal Map](https://soken.dev/crypto-map/). Last reviewed: 2026-06-01.*

**Sources:**
- [CONSOB](https://www.consob.it)
- [EU MiCA Regulation](https://eur-lex.europa.eu)