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Rules 2026: what changed
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How has cryptocurrency taxation in Italy changed in 2026 — and why does this affect everyone who holds crypto in wallets?
In 2026 Italy significantly tightened cryptocurrency taxation. Where previously small amounts could be ignored — now everything is taxable.
Key changes in 2026
The capital gains rate was raised from 26% to 33% (except for euro-stablecoins). The €2,000 threshold has been removed — any profit is taxable. From 2027 all crypto transactions through EU platforms will be automatically reported to tax authorities.
"Since 2026 the €2,000 threshold has been removed. Everything is now taxable. The 26% rate applies only to euro-stablecoins, all others — 33%. A 0.2% tax — even on simply held declared assets."
Rates and taxes in 2026
Legal basis: Legge 197/2022 (paragraphs 126-147), with 2026 amendments.
Holding tax (IVCA)
0.2% annually — even if you didn’t sell anything
IVCA (Imposta sul Valore delle Cripto-Attivita) = 0.2% of the value of all crypto assets on December 31. Calculated from the declared value. If you have crypto worth €100,000 — you pay €200 per year simply for holding it. This is analogous to a property tax for digital assets.
Before vs after
| Parameter | 2023-2025 | 2026+ |
|---|---|---|
| Profit rate | 26% | 33% (26% for stablecoins) |
| Non-taxable profit threshold | €2,000 | €0 (removed) |
| Holding tax (IVCA) | 0.2% | 0.2% |
| Automatic platform reporting | No | From 2027 (for transactions from 01.01.2026) |
What is taxed
When exactly does a tax liability arise — on purchase, sale, exchange or just holding?
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✓Selling crypto for fiat
crypto → EUR/USD = realized gain, taxed at 33%
-
✓Exchange between cryptocurrencies
BTC → ETH = also a realization of gain (at the value at the time of exchange)
-
✓Paying with crypto for goods/services
Considered a sale of crypto at the current rate
-
✓Staking income
Staking rewards = income, taxable
-
✓Simple holding
IVCA 0.2% annually of the value on December 31
Calculation example in 2026
Bought bitcoin for €50,000. On the sale date it is worth €80,000. Gain = €30,000. Tax = 30,000 x 33% = €9,900. Plus IVCA for one year: 80,000 x 0.2% = €160. Total: €10,060.
How to declare cryptocurrency
Where and how to report crypto in the Italian tax return?
Cryptocurrency assets are declared as part of Redditi PF (not form 730):
Section RW - foreign assets
Enter the value of all crypto assets on December 31 of the reporting year. IVCA 0.2% is also calculated here.
Section RT - capital gains
Report realized gains from sales, exchanges, staking. Tax is calculated here at 33% (or 26% for stablecoins).
Payment via F24
Prepayments in June and November, final settlement via the tax return. Deadline for filing Redditi PF — by November 30 of the following year.
An accountant (commercialista) is mandatory
Crypto declaration is one of the most complex parts of Italian tax reporting. Find a commercialista (accountant/tax advisor) who understands crypto specifically. Many Italian accountants still do not understand how it works. More on choosing an accountant — in our article on forfettario.
Three scenarios: when you bought crypto
Does it matter whether the crypto was bought before or after moving to Italy?
You show it in the declaration as initial capital (patrimonio iniziale). The tax authority can only check the period of your residency — you are not obliged to explain where the crypto came from before moving. Capital gains are calculated from the value on the date you became a resident.
Provide contracts, purchase receipts. Gains are calculated normally: sale price minus purchase price. All is taxed at the current 2026 rates (33% / 26%).
You need supporting documents of the asset sale. If the asset was previously declared — converting it into crypto does not trigger a tax. But on a subsequent sale of the crypto the gain is taxed normally.
Didn’t declare before — how to legalize
What to do if you lived in Italy and held crypto but didn’t declare it — how much does legalization cost?
Ravvedimento operoso — the "repentance" procedure
The Italian tax system allows you to correct mistakes yourself with a reduced penalty. The sooner you correct — the cheaper. And importantly: declared crypto is considered "whitened" — you are not asked about the sources of its acquisition if you declare it as initial capital.
Example calculation for legalization
| Parameter | Calculation | Amount |
|---|---|---|
| Crypto assets | €100,000 | - |
| Not declared | 3 years | - |
| IVCA for 3 years | 100,000 x 0.2% x 3 | €600 |
| Penalties (ravvedimento) | Reduced rate | ~€805 |
| Total for legalization | ~€1,405 |
€1,405 to legalize €100,000 of crypto assets for 3 years. After this the entire amount is considered "clean" — you will not be asked about its sources.
"The best way is to go through the corrective declaration procedure. The tax authority can only check the residency period, and you are not obliged to explain where your crypto came from before the start of residency. At the same time the entire amount is considered whitened."
Basic penalty for non-declaration (without ravvedimento)
If the tax authority finds undeclared foreign assets itself — the fine is from 3% to 15% of the value (art. 4.5 D.L. 167/1990). For €100,000 this is €3,000–15,000 — 2–10 times more than with voluntary ravvedimento.
Optimization: affrancamento and loss carryforward
Are there legal ways to reduce crypto tax in Italy in 2026?
Affrancamento — tax revaluation
How it works
Affrancamento allows you to revalue the purchase base of the asset. Example: bought BTC for €50,000, now worth €80,000. By applying affrancamento you change the cost basis from €50,000 to €80,000. You pay 18% on the difference of €30,000 (= €5,400). But on a future sale the gain will be calculated from the new basis €80,000 — potentially saving much more.
"Affrancamento is not an annual opportunity, but judging by past applications — it’s a regular tool in Italy. It has been applied in 2002, 2003, 2008, 2010, 2012, 2014, 2016, 2020, 2022 (for crypto)."
Loss carryforward
Losses reduce future profit
If in 2026 you sold crypto at a loss — that loss can be used as a deduction from profits over the next 4 years. So if you lost €10,000 in 2026 and earned €10,000 in 2027 — the tax for 2027 will be €0.
Crypto cards and automatic reporting from 2027
Will the Italian tax authority learn about my operations via Binance Card or other crypto cards?
From 2027 — full transparency
Under new European regulation all crypto transactions through regulated EU platforms will be automatically forwarded to local tax authorities. Reporting will start in 2027 for all transactions from January 1, 2026. Everything is reported: deposits, buy/sell, exchange, payments.
"Those who use European crypto cards should understand: under the latest regulation all transactions will be forwarded to local tax authorities. Deposits in crypto, buy/sell for any currency, crypto-to-crypto exchanges, payments in crypto. Data will be dumped in 2027 for all transactions from January 1, 2026."
"If you top up with crypto to a regulated EU crypto-fintech — be ready to explain to the tax authority where your crypto came from (where it was purchased) and what the sources of funds were."
Real community case
Do people actually pay crypto taxes in Italy in 2026 — or is everyone still "getting by"?
"100% I haven’t paid a single crypto tax. I’m not even sure anyone pays crypto taxes. The main problem — I have no idea how to pay taxes on them. Laws aren’t fully written for them yet."
Why "getting by" stops working in 2026-2027
Until 2026 many indeed did not pay — there was no automatic reporting, and the €2,000 threshold allowed ignoring small operations. From 2026-2027 everything changes: the threshold is removed, the rate rose to 33%, and from 2027 platforms will begin automatically reporting data. Legalization via ravvedimento now costs very little — later it will be significantly more expensive.
"You cannot pay more than €5,000 in cash by law. Above that — only non-cash. When you go to the bank, they will ask where the cash came from. 98% of that information will go to the tax authority and then there will be questions why the crypto wasn’t declared."
Conclusions
The rate rose to 33%, the threshold was removed, and from 2027 there will be automatic reporting. The window for "quiet" holding is closed.
~€1,400 to legalize €100,000 over 3 years. The penalty if found on audit — €3,000–15,000. A difference of 2–10x.
You are not required to explain its origin. Declare it as patrimonio iniziale. Tax only on gains after the residency date.
Revaluing the cost basis for 18% now can save 33% later. Discuss with your accountant before selling.
Most Italian commercialisti don’t understand crypto taxes. Look for a specialist. Mistakes here are costly.
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