The Italian Budget Law 2023 has introduced a unified tax regulation for crypto assets, as Italy has recognized the existence of virtual currencies as an alternative payment instrument. Capital gains, exchange, and sale for consideration of cryptocurrencies are taxed, with capital gains only taxed if they exceed €2,000 in the tax period. No taxability is clarified for capital gains arising from merely holding crypto assets. The transfer of crypto assets to third parties for mere detention is considered a transfer for consideration and thus becomes taxable. The law also introduces the application of stamp duty, at the rate of 2 per thousand per annum to be paid in the manner and terms of income tax, to the final value of crypto-assets. Additionally, the budget law provides for an amnesty to put in order gains never declared to the tax authorities.
