Italy’s tax treatment of cryptocurrencies: The risks and opportunities

Giorgio Vaselli is a Special Counsel in Withers' private client and tax team in Milan.

Interest in cryptocurrencies and crypto-assets has literally exploded worldwide over the last few years.

The reason they have become so attractive is that they serve a multitude of purposes: from being a cutting-edge payment method to acting as an alternative (and rather unregulated) means of speculating. The skyrocketing value reached from the second half of 2017 to 2018 by the main cryptocurrencies (when Bitcoin was worth approximately 20,000 USD) was indeed a key factor,...

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