In Italy, the tax regulations on cryptocurrencies require the payment of a stamp duty of 2 per thousand (0.2%) on deposits in crypto.
However, the reality is a bit more complex than that, as emerges from what was recently stated by Dr. Stefano Capaccioli during an interview.
In fact, there is not only the stamp duty, but also the tax on crypto-assets, which is similar but with some differences.
Of course, there are always also taxes to be paid on any capital gains, but these are paid only if sales have been made that overall have generated capital gains.
Summary
Crypto stamp duty
In Italy, the rules on crypto-assets provide for the payment of a stamp duty equal to 0.2% per year of the value of the crypto-assets held on 31 December of each year.
However, this stamp duty is only the one owed by intermediaries such as exchanges.
In practice, after 31 December these intermediaries must calculate the tax on the value of the crypto-assets.
The Italian Revenue Agency has specifically identified exchanges as the parties required to pay this stamp duty, which therefore ends up being borne by the intermediary and not by the final taxpayer. Obviously, the exchange will then recover it from the end customer by having it reimbursed.
In particular, exchanges based in Italy or registered with the OAM must act as withholding agents specifically for this tax, which will then be deducted directly from the user’s account balance. The taxes on any capital gains are a completely different matter, for which nowadays very few intermediaries act as withholding agents.
The tax on crypto-assets
The tax on crypto-assets (IC) has the same rate (two per thousand), but differs in the method of payment.
In fact, it applies when the previous stamp duty is not due, such as in the case of a foreign intermediary or a non-custodial wallet.
In the specific case of the tax on crypto-assets, it is the taxpayer themself who must provide for self-assessment through the tax return, indicating the data in section RW. In this case, therefore, there are no intermediaries acting as withholding agents.
In other words, if you hold the private keys, or use foreign exchanges not registered with the OAM, you must personally pay the tax on crypto-assets, also having to self-calculate the amount. Payment can be made via the F24 form when filing the tax return.
In addition, as regards specifically the tax on crypto-assets, payments are made in instalments (40% in May/June and 60% in November), resulting in a more spread-out financial outlay compared to the stamp duty, which instead is withheld in a single annual payment.
The new developments
There are, however, some recent developments in this regard.
The first is that the existence of an exemption threshold has become evident, which however applies only to the tax on crypto-assets, and not to the stamp duty.
In fact, there is a minimum threshold of €12 below which the payment of the tax on crypto-assets is not due.
Regardless of the payment of these taxes, in Italy there is an obligation to declare crypto-assets in section RW of the tax return regardless of the amounts.
Furthermore, with the entry into force of the European MiCA regulation, many exchanges have changed their presence in the OAM register, so it is advisable to check whether you fall under the stamp duty regime or that of the tax on crypto-assets (or both).
It should be added that the tax rules relating to crypto-assets have been the subject of discussion due to their complexity and the frequent need for regulatory adjustments.
For example, following the entry into force of MiCA itself, more than 115 VASPs left Italy.
So the rules on stamp duty and on the tax on crypto-assets have not changed, but the exchanges registered with the OAM have changed. In fact, there have been many exchanges that were previously obliged to register and report data to the OAM register, which instead obtained licenses in other European countries, thus no longer having reporting obligations in Italy.
Thus, while up to 31 December 2024 about 150 entities were registered in the OAM register, by 31 December 2025 this number had instead been reduced to 35.
For taxpayers who had dealings with exchanges no longer registered with the OAM as of 31 December 2025, the suggestion is to pay the tax on crypto-assets directly.
