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In a historical moment in which the use and possession of cryptocurrencies are spreading at a sustained pace, the Italian Parliament is preparing to discuss an amendment that could redefine the taxation of the crypto sector.
Presented by the honorable Marcello Coppo, deputy of Fratelli d’Italia, the measure is part of the context of the 2025 Budget Law and aims to radically change the tax regime on capital gains from cryptocurrencies to 42%.
With the aim of simplifying and making the regulations more equitable, the amendment proposes, among other measures, the elimination of the exemption threshold and the introduction of a substitute tax for the revaluation of digital assets.
A proposal that is already attracting the attention of experts and investors, with potential significant changes for the Italian cryptocurrency market.
The highlights of the amendment on crypto taxation
Replace paragraph 2 with the following:
2. The consolidated text of income taxes, as per the decree of the President of the Republic 22 December 1986, no. 917, is amended as follows:
a) in paragraph 1, article 67, the words: “, not less than a total of 2,000 euros in the tax period” are deleted;
b) in paragraph 9-bis, article 68, the words: «for an amount exceeding 2,000 euros,» are deleted.
Elimination of the 2,000 euro exemption threshold for capital gains from cryptocurrencies:
- Article 67, paragraph 1: currently, capital gains from cryptocurrencies are taxed only if they exceed an overall threshold of 2,000 euros in the tax period. The amendment proposes to eliminate this threshold, making every capital gain taxable, regardless of the amount.
- Article 68, paragraph 9-bis: this paragraph establishes how to calculate and declare capital gains. The amendment removes the reference to the threshold of 2,000 euros, standardizing the tax treatment.
The taxation at 16%
2-ter. For the purposes of determining the capital gains and losses referred to in letter c-sexies) of paragraph 1 of article 67 of the consolidated income tax act, referred to in the decree of the President of the Republic 22 December 1986, no. 917, for each crypto-asset held on January 1, 2025, the value on that date, determined pursuant to article 9 of the aforementioned consolidated act, may be assumed instead of the cost or purchase value, provided that the aforementioned value is subject to a substitute tax on income taxes at the rate of 16 percent.
Revaluation of crypto-assets:
- To determine capital gains and losses related to crypto-assets (now included in letter c-sexies of article 67 of the TUIR), an option is offered: to assume the market value of the crypto-assets on January 1, 2025, instead of the original purchase cost or value.
- This revaluation allows for “updating” the value of cryptocurrencies for tax purposes, reducing potential taxable gains in the event of a subsequent sale.
- To take advantage of this possibility, the application of a substitute tax of 16% on the revalued value is provided.
Final Conclusions
In summary, the Coppo amendment proposes an ambitious approach to the taxation of cryptocurrencies, with the introduction of a single rate of 26% for capital gains, eliminating the exemption threshold of 2,000 euros.
At the same time, it offers a possibility of regularization for those who have not declared in the past, thanks to an optional revaluation with a substitute tax of 16%. This could represent an opportunity for many taxpayers to comply and, at the same time, ensure significant revenue for the Treasury.
Despite some changes to the initial text, such as the removal of the part that eliminated the 2,000 euro threshold, the proposal remains one of the central topics in the fiscal debate on the crypto sector in Italy.
Now we just have to wait for the outcome of the parliamentary discussions, which in the coming days could mark a historic turning point for the regulation of the cryptocurrency market in our country.
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