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Quick answer — Italy, 2026

• Legal: Legal to own and trade, not legal tender
• Tax: Gains taxed at 33 percent from 2026, plus 0.2 percent annual charge
• Buying: Via MiCA-authorised or EU-passported exchanges

In Italy, owning, buying, selling and using Bitcoin and other crypto-assets is legal, but crypto is not legal tender: only the euro must be accepted to settle debts. As a member of the European Union, Italy regulates crypto mainly through the EU Markets in Crypto-Assets Regulation (MiCA / MiCAR, Regulation (EU) 2023/1114), which was brought into Italian law by Legislative Decree no. 129 of 5 September 2024. Supervision is shared between CONSOB (the securities and markets authority) and the Banca d'Italia (Bank of Italy), while the Agenzia delle Entrate handles taxation. On top of MiCA sit anti-money-laundering obligations and a tax regime that was tightened from 1 January 2026.

This page is general information as of 2026 and is NOT legal, tax or financial advice. Crypto rules in Italy are changing quickly and depend on your personal circumstances. Always verify the current position with the named official regulators, CONSOB, the Banca d'Italia and the Agenzia delle Entrate, or consult a qualified Italian professional, before acting. For broader background see our guides on crypto regulation and crypto taxes.

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Yes. Buying, holding, selling and using Bitcoin and other crypto-assets is legal in Italy. There is no ban on individuals owning crypto, and authorised businesses may offer custody, trading, exchange and related services. What crypto is not is legal tender: under EU and Italian law only the euro must be accepted for the settlement of debts, so merchants are free to accept or refuse crypto as they choose.

Italy has moved from a fragmented, case-by-case stance to a harmonised European framework. Because Italy is part of the EU, the bloc-wide MiCA regulation now sets the baseline rules for crypto firms, while CONSOB and the Banca d'Italia handle authorisation, supervision and enforcement on Italian territory. The Banca d'Italia has noted that unbacked crypto-assets are not well suited to a payment function, and that regulated e-money tokens are the more reliable category for payments. For a resident, the practical effect is that crypto is treated as a legitimate but regulated and taxable asset, not a grey-area instrument.

Italy designated two competent authorities under MiCA, with responsibilities split largely by the type of operator and crypto-asset:

• CONSOB (Commissione Nazionale per le Societa e la Borsa): the securities and markets authority. It leads authorisation and supervision of crypto-asset service providers (CASPs), such as exchanges, brokers and custodians, generally in consultation with the Banca d'Italia, and has the main inspection and conduct-supervision powers. CONSOB also adopted the European Securities and Markets Authority (ESMA) guidelines on classifying tokens that qualify as financial instruments.
• Banca d'Italia (Bank of Italy): the central bank and prudential supervisor. It leads on issuers of asset-referenced tokens (ARTs) and on the stablecoin / e-money side, focuses on financial stability and the payments dimension, and acts in agreement with CONSOB where their remits overlap.
• Agenzia delle Entrate (Italian Revenue Agency): handles the taxation of crypto for residents.
• OAM (Organismo Agenti e Mediatori): maintained the national register used under the previous virtual-asset operator regime, which is being superseded by MiCA authorisation.

For background on how regulators around the world approach this, see our crypto regulation guide. Official CONSOB and Banca d'Italia links are listed at the end of this page.

Several layers of rules apply at once. The most important are the EU regulation, the Italian implementing decree, and anti-money-laundering obligations.

• MiCA / MiCAR (Regulation (EU) 2023/1114): the headline EU framework for crypto-asset service providers and for issuers of asset-referenced tokens and e-money tokens. It sets EU-wide rules on licensing, governance, custody, market conduct and consumer protection, and lets authorised firms passport their services across the EU. Rules on ARTs and e-money tokens began applying from 30 June 2024, with the full CASP regime from 30 December 2024.
• Legislative Decree no. 129/2024: Italy's national implementing law, published in September 2024. It designates CONSOB and the Banca d'Italia as competent authorities, sets out their powers, and amends provisions of the Italian Banking Act and Consolidated Finance Act to fit MiCA.
• Anti-money-laundering (AML): crypto businesses must apply customer due diligence, identity verification (KYC) and suspicious-activity reporting, in line with EU AML rules and Financial Action Task Force (FATF) standards.
• Tax transparency (DAC8): EU Directive 2023/2226 was brought into Italian law by Legislative Decree no. 194 of 10 December 2025, and the Agenzia delle Entrate set the operational rules by provvedimento of 22 June 2026. Crypto-asset service providers must collect client identification data, including Italian tax codes, and report exchange and transfer transactions. Obligations run from 1 January 2026, the first report is due to the Agenzia delle Entrate by 30 June 2027 for calendar year 2026, and the first international exchange of the data is due by 30 September 2027.

These instruments are now all in force. The remaining moving parts are at EU level, namely the proposal of 4 December 2025 to move CASP supervision from CONSOB to ESMA, and the digital euro Regulation, which entered trilogue on 13 July 2026.

Under MiCA, platforms serving Italian customers must be authorised as crypto-asset service providers (CASPs) and supervised by CONSOB, or hold an equivalent authorisation in another EU member state and passport in. Italy ran a transitional regime for firms that were already registered as virtual-asset operators in the OAM register:

• Providers that applied for MiCA / CASP authorisation by 30 December 2025 could continue operating while their application was assessed, under article 45 of Legislative Decree 129/2024 as amended by Decree-Law 95/2025.
• That transitional window closed on 30 June 2026. Since 1 July 2026, only authorised CASPs, and already-supervised intermediaries that have notified their supervisor, may serve clients in the EU. In their joint press release of 30 June 2026, CONSOB and the Banca d'Italia said firms without authorisation in at least one EU country must cease activity and limit themselves to what is needed to close existing relationships, letting clients transfer or liquidate their positions.
• CONSOB introduced a supervisory contribution for entities operating in crypto-asset markets by resolution (delibera) no. 23799 of 2025, published in the Gazzetta Ufficiale no. 21 of 27 January 2026.
• Full CASP authorisation in Italy arrived only in 2026. By 30 June 2026, CONSOB, working closely with the Banca d'Italia, had authorised eight CASPs: CheckSig S.r.l., Conio S.r.l., CryptoSmart S.p.A., Hercle S.r.l., Hodlie S.r.l., Olliv Italia S.r.l., Riv Digital S.r.l. and Young Platform S.p.A. Banca Sella S.p.A., already a supervised bank, notified the Banca d'Italia that it would provide crypto-asset services, bringing the total to nine enabled entities. This means many users relied on EU-passported firms authorised elsewhere while local approvals caught up.

Exact deadlines, fee amounts and the list of authorised firms have shifted during the rollout, so anyone using or running a platform in Italy should verify a provider's current authorisation status directly with CONSOB and the Banca d'Italia before relying on it.

Italy taxes crypto, and the regime became stricter from the start of 2026. The broad principles below are widely reported, but exact rates, thresholds and options can change and depend on your situation, so treat specific figures as indicative and confirm them with the Agenzia delle Entrate or a tax adviser. See also our general crypto taxes guide.

• Capital gains: profits from disposing of crypto are subject to a substitute tax. The rate rose from 26% to 33% for gains realised from 1 January 2026, under article 1, comma 24 of Law no. 207 of 30 December 2024 (the 2025 Budget Law). Gains realised during 2025 are still taxed at 26%. An earlier proposal to raise the rate to 42% was withdrawn during the 2025 budget debate.
• Removal of the small-gains exemption: a previous allowance that exempted modest annual gains (commonly cited as a 2,000 euro threshold) has been abolished, so gains are generally taxable from the first euro.
• Euro stablecoins: article 1, comma 28 of Law no. 199 of 30 December 2025 (the 2026 Budget Law) taxes gains and other income from holding, transferring or using euro-denominated e-money tokens at 26% rather than 33%, from 1 January 2026. A euro-denominated e-money token is one whose value is stably anchored to the euro and whose reserve funds are held entirely in euro-denominated assets with entities authorised in the EU. Simply converting between euro and a euro-denominated e-money token, or redeeming one for its nominal value in euro, does not create a taxable gain or loss. That carve-out is drafted narrowly and does not extend to swaps involving other crypto-assets, so check your own case before assuming it applies.
• Optional step-up (revaluation): Italy has repeatedly offered an option to reset the cost basis of crypto holdings to their value on a set date (for example 1 January) in exchange for paying an 18% substitute tax on that value, replacing the historical purchase cost for future gain calculations. This step-up was set out in the 2025 Budget Law (Law no. 207 of 30 December 2024) and can be paid in one sum or in installments. With the headline rate now higher, this election can reduce future tax for long-held positions, but it is a planning choice, not a tax that applies automatically, so model it and confirm the current terms before using it.
• Holdings charge (stamp duty / IVAFE): an annual charge of 0.2% (two per thousand) of year-end value applies, levied as a stamp duty where crypto is held with Italian intermediaries and as IVAFE (the tax on financial assets held abroad) for assets held with foreign intermediaries or in self-custody.
• Reporting (Quadro RW): residents are generally expected to declare crypto holdings in the RW section of the annual return, with no de minimis threshold for crypto, and to report taxable events even where no tax is ultimately due.

Record every transaction with dates and euro values. Italian treatment of activities such as staking and airdrops is still developing, so professional advice is worthwhile if your activity is more than occasional.

Crypto firms in Italy are treated as obliged entities under EU and Italian anti-money-laundering law. In practice this means:

• Identity verification (KYC): you must verify your identity with documents, and sometimes proof of address, before trading, depositing or withdrawing. This is a legal requirement, not an optional step.
• Customer due diligence: providers monitor activity, may request information on source of funds, and apply enhanced checks for higher-risk situations.
• Suspicious-activity reporting: firms must report suspicious transactions to the relevant Italian financial-intelligence authorities.
• Record-keeping and the travel rule: providers keep transaction records and, for transfers, collect and transmit originator and beneficiary information in line with EU rules.

From 2026, DAC8 also brings automatic reporting of crypto-asset data to tax authorities, so expect both your platform and the tax system to have visibility over your activity. The clear takeaway: use only authorised platforms, complete KYC honestly and keep your own records.

Italians can buy crypto through EU-authorised exchanges, local brokers, and some fintech and banking apps. Local providers are now becoming authorised under MiCA (CheckSig was reported as the first Italian CASP in 2026, with others such as Conio, RIV-Digital and Olliv Italia following), and firms authorised in other EU countries can also passport in to serve Italian residents. A typical, compliant path looks like this:

• Choose an authorised platform. Favour an exchange or broker clearly licensed to serve Italian residents under MiCA, and check its stated regulatory status.
• Verify your identity. Complete KYC by submitting an ID document and any required proof of address. This is mandatory.
• Fund your account. Deposit euros via SEPA bank transfer, card or a supported payment method, noting the fees.
• Place your order and compare total cost. Look beyond headline trading fees to spreads and conversion charges; zero-fee offers often recover costs in the spread.
• Secure your holdings. For larger or longer-term amounts, consider moving crypto to a wallet you control. Self-custody removes counterparty risk but makes you fully responsible for your keys; back up your recovery phrase offline and never share it.
• Keep records. Export your transaction history for your annual tax return.

Crypto ATMs exist in some Italian cities, usually with higher fees and identity checks for anything beyond small amounts. Merchants may accept crypto voluntarily, but are never obliged to. Be alert to scams: no legitimate service will ask for your seed phrase or guarantee profits.

Bitcoin mining is not prohibited in Italy, but it is rarely cost-effective at scale. The main obstacle is electricity: Italian power prices are among the higher ones in Europe, which squeezes margins for proof-of-work mining that competes globally on energy cost. As a result, large-scale industrial mining is limited compared with countries that have cheaper or surplus power.

Where mining does occur, the emphasis is increasingly on efficiency and renewable energy, alongside modern hardware and better cooling, reflecting both economics and the EU's focus on the environmental footprint of crypto. Anyone considering mining should account for hardware and electricity costs, noise and heat, grid-connection rules, and the tax treatment of any rewards, which may be taxable. Profitability is highly sensitive to the Bitcoin price, network difficulty and your power tariff, so model the economics and verify the tax position with the Agenzia delle Entrate before starting.

The dominant theme is consolidation under MiCA:

• Hard authorisation deadlines. CONSOB set firm dates for crypto platforms to obtain MiCA / CASP authorisation or exit the Italian market, with the transitional period reported to end no later than 30 June 2026.
• Supervisory fees. CONSOB introduced annual supervisory fees for crypto firms, scaling with the number of crypto-assets listed, with the first installment reported as due in mid-April 2026.
• First Italian CASP authorisations. Local approvals arrived only in 2026. CheckSig is reported as the first firm authorised in Italy (around May 2026), with Conio, RIV-Digital and Olliv Italia among those authorised in June 2026, shortly before the transitional deadline.
• Token classification. CONSOB adopted ESMA guidelines that sharpen when a token counts as a regulated financial instrument rather than a generic crypto-asset.
• Tax tightening. The rise to 33% for gains realised from 1 January 2026 was set by the 2025 Budget Law (Law no. 207 of 30 December 2024), not by the 2026 Budget Law, and the 2,000 euro exemption was removed by that same law from 1 January 2025. The 2026 Budget Law (Law no. 199 of 30 December 2025) then added the 26% rate for euro-denominated e-money tokens and brought crypto holdings into the ISEE means test. DAC8 reporting obligations started on 1 January 2026. The optional 18% step-up applied only to holdings at 1 January 2025, with the substitute tax due by 30 November 2025 in up to three annual instalments; the 2026 Budget Law did not open a new window.

For users this should, over time, mean better-supervised platforms, but in the short run some services may change terms, restrict features or leave the market. Confirm your provider's status and have a plan if it ceases Italian operations. The dates and law numbers above come from the Gazzetta Ufficiale, the Agenzia delle Entrate and the joint CONSOB and Banca d'Italia press release of 30 June 2026. The list of authorised firms changes as new authorisations are granted, so check the ESMA interim MiCA register for the current position.

MiCA aims to improve transparency, disclosures, custody standards and complaint handling, but it does not make crypto safe or guarantee returns. Key risks to weigh:

• Volatility: crypto markets can fall heavily and quickly, and there are no price guarantees.
• No deposit guarantee: crypto is not covered by deposit-protection schemes the way bank deposits are. If a platform fails or is hacked, recovery may be limited.
• Scams and phishing: fake exchanges, impersonation, romance and investment scams, and seed-phrase theft are common. Verify recipient details carefully, because crypto transactions are irreversible.
• Self-custody risk: holding your own keys removes counterparty risk but means a lost recovery phrase can mean lost funds.
• Provider exit risk: during the MiCA transition, some platforms may stop serving Italian customers.

A common principle is to invest only what you can afford to lose and to avoid over-concentration. If you are unsure, speak with an independent, qualified financial adviser who understands Italian tax and your circumstances. This page does not give investment advice or price forecasts.

Because rules and deadlines are changing in 2026, always confirm specifics with the official authorities rather than third-party summaries. The primary Italian and EU sources are:

• CONSOB MiCAR section, the securities and markets authority that authorises and supervises crypto-asset service providers.
• Banca d'Italia, MiCAR crypto-asset operators, the central bank and prudential supervisor.
• Agenzia delle Entrate, the Italian Revenue Agency, for taxation and reporting.
• ESMA, Markets in Crypto-Assets Regulation (MiCA), the EU-level framework and guidelines.

For more general background, see our regulation hub. Remember: this article is general information as of 2026 and not legal, tax or financial advice. Verify your specific situation with the named regulators or a qualified Italian professional before acting.

Facts reviewed: 5 August 2026. Page updated: 5 August 2026.

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