Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the Consob decision, including banking and payment rails.
Get a crypto license in Italy.
The EU's third-largest economy is now MiCA-only: the OAM register is history, Consob and Banca d'Italia run the gateway, and a 59-million market - where banks themselves are entering crypto - belongs to authorised firms.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated
Italy in brief
A G7 market, cleared for licensed firms only.
Italy folded crypto into its financial rulebook through Legislative Decree 129/2024, splitting supervision the classic Italian way: Consob leads on authorisation and conduct, Banca d'Italia covers prudential soundness and stablecoins, and Law 199/2025 added a permanent coordination committee across the finance ministry, both supervisors and the financial police. The legacy OAM register - once home to over a hundred crypto operators - is closed, and the transitional regime that let registered firms keep operating ran out on 1 July 2026. The result is stark and useful: the EU's third-largest economy is now served only by authorised CASPs and passporting EU firms.
The market is worth the file. Italy has 59 million consumers with high retail crypto adoption, and its banking sector - one of Europe's largest - is moving into regulated custody and trading itself, which normalises the industry for everyone licensed. Taxes need sober planning: companies pay 24% IRES plus regional IRAP, and personal crypto gains are taxed at 33% since January 2026 with the old €2,000 franchise abolished - company-level structuring matters here more than in most of the EU, and it is exactly what we model before you commit.
The EU's third-largest economy is MiCA-only: OAM closed, transition over 1 July 2026, Consob and Banca d'Italia at the gateway.
59 million consumers, banks entering crypto themselves, and taxes that reward planning: 24% IRES, 33% personal since 2026.
Licence classes
One authorisation, scoped to your services.
MiCA defines ten crypto-asset services in three capital classes. Consob authorises the exact scope you apply for, with Banca d'Italia alongside on prudential matters. We fix the perimeter first, then build once.
Ten MiCA services in three capital classes. Consob authorises, Banca d'Italia alongside.
01 - CASP · CLASS 1-2
Core crypto services
For brokers, exchangers and custodians. Execution, exchange and safekeeping of client crypto-assets under one authorisation. Minimum capital €50,000-€125,000 depending on scope.
For brokers, exchangers and custodians. Execution, exchange and safekeeping of client crypto-assets under one authorisation. Minimum capital €50,000-€125,000 depending on scope.
- ✓Exchange of crypto ↔ fiat and crypto ↔ crypto
- ✓Execution, reception and transmission of orders
- ✓Custody and administration of client crypto-assets
- ✓Transfer services for crypto-assets
- ✓Advice and portfolio management on crypto-assets
- ✓Placing of crypto-assets
02 - CASP · CLASS 3
MiCA-only since 1 July 2026Trading platform
The highest MiCA tier. Operation of a crypto trading venue with €150,000 minimum capital, listing rules and market-abuse controls, passportable across the EU from a G7 home market of 59 million.
The highest MiCA tier. A trading venue with €150,000 capital, in a G7 home market.
- ✓Operation of a crypto-asset trading platform
- ✓Matching of buyers and sellers in the venue
- ✓Admission-to-trading (listing) framework
- ✓Market-abuse monitoring under MiCA Title VI
- ✓Combines with custody and exchange services
- ✓One home authorisation - for all 27 EU states
Costs and timelines are confirmed for your case before any work begins. Supervisory fees are statutory; the real investment is the file and substance. Both scoped individually in your quote. EMT / stablecoin issuance runs through Banca d'Italia and is quoted separately.
Why Italy
The market argument, cleared of the grey zone.
The framework is MiCA via D.Lgs. 129/2024, supervised by Consob and Banca d'Italia. Two institutions whose approval carries weight far beyond crypto.
✓
The EU's third-largest economy
59 million consumers, a G7 industrial base and retail crypto adoption among Europe's highest. The home market alone justifies the file, before the passport adds 26 more states.59M consumers, high adoption. The market is the case.
✓
A market cleared for the licensed
The OAM era ended on 1 July 2026. Over a hundred once-registered operators had to authorise, passport in or exit. The firms that remain compete in a market wiped of grey-zone competition.OAM era over; grey zone gone since 1 Jul 2026.
✓
Two supervisors, one credibility
Consob on conduct, Banca d'Italia on prudential soundness. The same pairing that supervises Italian banking and markets. Their authorisation reads as institutional-grade far beyond crypto.Consob + BdI - institutional-grade approval.
✓
Banks are entering, not resisting
Italy's major banking groups are building regulated crypto custody and trading under MiCA. Normalising the sector, opening counterparties and validating the market for licensed firms.Regulated custody and trading - counterparties exist.
✓
Coordinated, predictable enforcement
Law 199/2025's permanent committee aligns the ministry, both supervisors, the financial police and the FIU. Enforcement is real, which is precisely what makes the licence valuable.Law 199/2025 coordination. The licence has value.
✓
EU passport from a G7 base
One authorisation covers all 27 EU states through MiCA passporting. With a home market most passport-holders would trade up for.27 states, with a home market worth keeping.
How it compares
How Italy differs from other routes.
Italy trades higher taxes for one of the EU's most valuable home markets. The real comparison. Including that trade - is below.
Italy vs other jurisdictions
| Feature |  Italy | Other jurisdictions |
|---|---|---|
| Regulatory regime | MiCA CASP - Consob + BdI | National regimes or single supervisors |
| Home market | 59M · EU's 3rd economy | Smaller home markets |
| Personal crypto tax | 33% since 2026 | 0-28% in several EU states |
| Market status | MiCA-only since 1 Jul 2026 | Some markets still settling |
Regulatory regime
ItalyMiCA CASP - Consob + BdI
Other jurisdictionsNational regimes or single supervisors
Home market
Italy59M · EU's 3rd economy
Other jurisdictionsSmaller home markets
Personal crypto tax
Italy33% since 2026
Other jurisdictions0-28% in several EU states
Market status
ItalyMiCA-only since 1 Jul 2026
Other jurisdictionsSome markets still settling
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Italy | MiCA CASP (Consob) | 24% IRES · 33% personal | Dual supervisor, thorough |
 Spain | MiCA CASP (CNMV) | 25% CIT · savings 19-30% | Engaged, ad-regime pioneer |
 Czech Republic | MiCA CASP (ČNB) | 21% CIT | Fast, technical, predictable |
 Malta | MiCA CASP (MFSA) | ~5-10% effective after refunds | Experienced, slower queue |
ItalyLicense typeMiCA CASP (Consob)
Taxation24% IRES · 33% personal
RequirementsDual supervisor, thorough
SpainLicense typeMiCA CASP (CNMV)
Taxation25% CIT · savings 19-30%
RequirementsEngaged, ad-regime pioneer
Czech RepublicLicense typeMiCA CASP (ČNB)
Taxation21% CIT
RequirementsFast, technical, predictable
MaltaLicense typeMiCA CASP (MFSA)
Taxation~5-10% effective after refunds
RequirementsExperienced, slower queue
Before you apply
Requirements for the Consob authorisation.Requirements for authorisation.
Italy applies the full MiCA standard through two supervisors used to licensing banks and investment firms. The checklist below is what a passing file contains.
01
Italian entity. An S.r.l. or S.p.A. with its registered office and effective management in Italy.
02
Substance. Decision-making genuinely in the country: local management, compliance and risk on the ground.
03
Fit & proper management. Honourability and competence requirements for directors and qualifying shareholders.
04
Own funds - €50,000, €125,000 or €150,000 by service class, or one quarter of fixed overheads if higher.
05
Programme of operations. Services, target markets, volumes and a business plan both supervisors can interrogate.
06
AML/CFT framework. D.Lgs. 231/2007-grade KYC, EDD, monitoring and reporting to the UIF, with a named officer.
07
ICT and DORA compliance. Resilience testing, incident reporting and the ICT third-party register.
08
Safeguarding of client assets. Segregation of client crypto and funds, custody policy, key management.
09
Governance. Ownership to UBOs, qualifying holdings disclosed to Banca d'Italia, conflicts procedures.
10
Wind-down plan. Credible, funded and documented.
11
Tax registrations and reporting readiness. The 33% regime and DAC8 make clean books a supervisory topic too.
01
Italian S.r.l./S.p.A., managed from Italy.
02
Local management, compliance and risk.
03
Honourability and competence for directors.
04
Own funds €50k-€150k by class.
05
Programme of operations + business plan.
06
D.Lgs. 231/2007 AML, reporting to the UIF.
07
ICT resilience under DORA.
08
Segregation and custody of client assets.
09
Holdings disclosed to Banca d'Italia.
10
Credible, funded wind-down plan.
Reflects MiCA, D.Lgs. 129/2024 and supervisory practice as of 2026. The transitional regime ended 1 July 2026. Unauthorised service to Italian clients is subject to enforcement.MiCA + D.Lgs. 129/2024 as of 2026. Transition ended 1 Jul 2026.
How it works
From first call to the register.
01
Perimeter and strategy
We map your services to the MiCA classes and fix scope, capital and timeline in writing. With the tax model on the table from day one.Classes, capital, tax model - in writing.
02
Italian company and substance
S.r.l. formation, registered office, local management and governance. The presence both supervisors verify.S.r.l., office, local management.
03
The application file
Programme of operations, AML/CFT framework, DORA documentation, safeguarding and wind-down. Complete before filing.Programme, AML, DORA - complete first.
04
Consob review
25 working days to completeness, 40 more to decision on the statutory clock - 6-10 months in practice, with Banca d'Italia weighing in on prudential matters.25+40 wd statutory; 6-10 months, two supervisors.
05
Authorisation and passport
Entry in the register, ESMA notification and passporting into all 27 EU states - plus ongoing reporting we can keep running.Register entry, then all 27 EU states.
Quick facts
RegulatorConsob + Banca d'Italia
FrameworkMiCA · D.Lgs. 129/2024
Capital€50k / €125k / €150k
Statutory clock25 + 40 working days
In practice6-10 months
OAM era ended1 July 2026
Personal crypto tax33% since 2026
PassportAll 27 EU states
Dual supervision means two sets of questions. Files built for both from the start move much faster.
On the ground in Italy
Run from our Milan office.
Prifinance - Italy
Milan · Italy
Milan, Italy
01
Italian company formation
S.r.l. incorporation, registered office, codice fiscale handling and the corporate layer supervisors expect. Structured for the authorisation.S.r.l., codice fiscale, structured for the file.
02
The authorisation file
Programme of operations, AML pack and DORA documentation. Drafted by us and defended before Consob with Banca d'Italia alongside.Programme, AML, DORA. Defended before both.
03
Substance and staffing
Director and compliance recruitment, office arrangements and payroll. The presence Italian supervision verifies, assembled pragmatically.Directors, compliance, office - assembled.
04
Tax structuring
IRES/IRAP planning, the 33% personal regime and group structuring. Modelled before you commit, not after.IRES/IRAP + the 33% regime - modelled first.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Dubai
UAE
33 Level, Al Saqr Business Tower
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of crypto companies in Italy.
Italy is not a low-tax play. It is a market play. The real numbers below, and the structuring that makes them workable.
IRES 24% + IRAP
Corporate profits pay 24% IRES plus regional IRAP of around 3.9%. Roughly 28% combined. Ordinary deductions apply, and Italy's treaty network is deep.~28% combined; deep treaty network.
Personal: 33% since 2026
The substitute tax on personal crypto gains rose from 26% to 33% on 1 January 2026, and the €2,000 franchise is gone. Every euro of gain is taxable. Planning is not optional here.Threshold abolished; planning is not optional.
Euro stablecoins: still 26%
Gains on MiCA-compliant euro-denominated e-money tokens keep the 26% rate. The law treats them as payment instruments rather than speculation, a detail worth structuring around.Compliant euro stablecoins keep the old rate.
VAT-exempt exchange
Crypto ↔ fiat exchange is VAT-exempt as a financial service under the Hedqvist line. The 22% standard rate touches only ordinary supplies.Hedqvist line; 22% only on ordinary supplies.
Inbound worker regime
Qualifying professionals relocating to Italy can exempt 50% of employment income for five years. A meaningful lever when moving a licensed team into the market.50% exemption, five years, for relocating pros.
DAC8 and full reporting
CASPs report client transactions under DAC8 from 2026, with full data flows to the Agenzia delle Entrate from 2027, and crypto now counts in ISEE means-testing. Clean books are strategy, not admin.Full flows to the tax agency; clean books win.
Tax summary
IRES24%
IRAP (regional)~3.9%
Personal crypto gains33% · since 1 Jan 2026
Euro EMT gains26%
Tax-free thresholdNone - abolished
VAT on crypto exchangeExempt
DAC8 reporting2026 · full 2027
*Figures as of 2026. The 26%→33% jump makes entity-level and timing decisions decisive. We model them before you commit.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Italian S.r.l., AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, authorised business.
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Italy · Consob
Launch your crypto project in Italy with expert support.
Full-service assistance - from company registration to Consob authorisation and ongoing compliance.
Get a consultation →Free legal opinion
Is Italy the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Italian crypto licence: frequent questions.
What licence does a crypto business need in Italy?+
CASP authorisation under MiCA, granted by Consob with Banca d'Italia on prudential matters, under Legislative Decree 129/2024 - required for exchange, brokerage, custody, transfer, advice and trading-platform services aimed at the Italian market.
What happened to the OAM register?+
It closed with MiCA. The transitional regime that let OAM-registered operators keep working ran out on 1 July 2026 - firms either obtained authorisation, passported in from another EU state, or exited. The register era is over.
How much capital is required?+
MiCA's three classes: €50,000 for advice and order services, €125,000 for exchange, execution and custody, €150,000 for a trading platform - or a quarter of annual fixed overheads if that is higher.
How long does authorisation take?+
The statutory clock is 25 working days to completeness plus 40 to decision. With two supervisors involved, realistic end-to-end timelines run 6-10 months - files built for both sets of questions from the start move fastest.
What substance is expected?+
An Italian S.r.l. or S.p.A. with effective management in Italy: honourable, competent directors, a compliance function on the ground, and systems that demonstrably run. Banca d'Italia separately reviews qualifying shareholders.
How are crypto companies taxed?+
24% IRES plus regional IRAP of roughly 3.9% - about 28% combined. Crypto-fiat exchange is VAT-exempt, and DAC8 reporting applies from 2026 with full flows from 2027.
What is the 33% personal tax?+
Since 1 January 2026, personal crypto gains pay a 33% substitute tax - up from 26%, and the €2,000 tax-free threshold is abolished. Euro-denominated MiCA stablecoins keep 26%. Timing and entity choices matter more in Italy than almost anywhere in the EU.
Are Italian banks really entering crypto?+
Yes - major banking groups are building regulated custody and trading under MiCA. For licensed CASPs that is good news twice over: counterparties exist, and the sector reads as normal finance rather than frontier.
Does the Italian licence passport across the EU?+
Yes - one authorisation covers all 27 EU member states through MiCA passporting after notification. Many groups also weigh the reverse: passporting into Italy from a lighter desk. We model both, side by side.
Why Italy rather than another MiCA desk?+
The market. If your product needs Italian users, banks or institutions, the licence is the price of a G7 economy cleared of grey-zone competitors since July 2026. If you only need a passport, a lighter desk may fit better, and we will tell you so.
What licence is needed?+
Consob CASP authorisation; BdI on prudential.
The OAM register?+
Closed; transition ended 1 Jul 2026.
Capital?+
€50k / €125k / €150k by service class.
How long?+
6-10 months; build for both supervisors.
Substance?+
Italian entity, honourable directors, local compliance.
Company taxes?+
24% IRES + ~3.9% IRAP; VAT-exempt exchange.
Personal 33%?+
Since 2026; no threshold; euro EMTs at 26%.
Banks in crypto?+
Yes - regulated custody and trading are live.
EU passport?+
Yes - all 27 states by notification.
Why Italy?+
A G7 market cleared of unlicensed competition.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
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Google
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Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: which Italian route fits your project and what it will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right licence scope, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of Consob, Banca d'Italia or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.