Bitcoin Forum

Apparently the M5S which may well form the new Italian government is crypto friendly.
Do you guys know more on Italy and its views on crypto currency?
What about taxes there?

The Italian government believes and believes that proper regulation and supervision can make potential Cryptocurriency a positive impact. They have also implemented some rules to prevent the currency from being used for unlawful activities.

when can other  governments be col towards crypto? >:(

What about taxes there?

I suggest you look at their startup laws. Well intentioned but horrible in execution. It does not work what they prepared and I suppose that wanting to be crypto friendly does not mean building proper framework. Do not expect miracles from Italian government regardless of what they say.

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I don't want to talk here about politic, but if M5S will go to power it would be a total disaster for italian people.
The last problem will be in what currency the disaster will happen.
If they are bitcoin friendly, what it really will happen is that every one will be forced to have a bitcoin address (under government autorization...) so bye bye anonymity.
If you still don't understand, it will be a totalitarian state.
I left Italy 25 years ago and I never regretted it.

For what I know, this new political party, created by a joker, is just made by incompetent and arrogant people, and they had a good election result just by promising a general monthly venue for everyone (it's not clear where they will find the money... probably they are thinking to mine them...).
We'll see, it will be very funny to see them in power...

No taxes in Italy for individuals selling cryptos.

Only companies using cryptos have to pay taxes.

Here is another country that is making the right move with respect to the crypto currency. Italy has already drafted a bill on the regulation of the crypto currency, which is likely to come into force, and bitcoin and other coins will be considered a legal tender in their territory.

Due to elections, anything was frozen in Italy in last months.
Btw, the only intention for regulation of bitcoin from italian government - whatever it will be - is to tax it: there is nothing more to tax in Italy (if they try, a revolution will start), but bitcoin is something new, so there is a chance...

I do not know about taxes, but if the Italian government supports the crypto industry,it will be a very good sign,as in the Wake of Italy and other countries can revise their positions on the currency.

I would not be so hopeful about Italy. The good news is that they are a little Euro sceptical now, because EU has turned their back to Italy. Italy may try to accumulate any income and tax by allowing, inviting and regulating crypto, but I don't think they will be able to do it.

The best and useful thing that government should and can do is really prevent the currencies from being used for illegal activities, I don't see any bad effect resulting from use of cryptocurrencies.

i'm not sure about italy in particular, but i'm sure that most governments are going to hold pretty tough tax policy about crypto

Italy is part of the EU so they will have to follow their rules. If the EU doesn't crack down on it and i think they won't, then Italy can do what they want. As they are heavily in debt, i'd be surprised if they didn't tax it, or at least float their own coin to prop up their economy

Italy had elections just some days ago, so you mustn't believe any declaration made before ot them!
Btw, there are discussion at european level about bitcoin, so it's very unlikely that Italy can take an autonomous decision.
And any decision - you can bet - will be in the direction of control and tax.

That's a pretty good law. ;D And a great incentive for individuals to get involved in crypto.

well time to pack your bags and move to Italy  :)

crypto is a new development in the world of money constantly. now estimates do not work in this market. Italy took new decisions and opted for sanctions.

More and more governments seem to be testing the waters, let us see who takes the plunge deep enough to tempt others to dive in.

What does m5s have to do with it? What can they do if there is a regulation by dragons? Have you not yet understood that everything depends on Europe?

Italy will also be an example. As a result of my research, other world countries are bringing a study to this topic. the paper currency may soon be out of date.  ???

In Italy we live in a dramatic situation. Today, more than ever, our country is in pain, why do you come here to talk about us?

Please, the M5S government is worse than the worst government in the world, they are thieves and talkers. Italy would end up living if M5S climbed and that's why:

Italy does not protect its public workers.
You are more protected from private.
Leaving Europe would mean cutting Horizon 2020 funds dedicated to medical and university research. This would lead to an increase in taxes.

Why do you talk about M5S when you talk about Italy?
With less privatization public spending rises and as a result the Italians will pay more taxes. Italy is a country where more taxes are paid in the world.
If you come to Italy, M5S will also tax your ass, bitcoin and the air you breathe.
There is a tax on the shadow that applies as occupation of public land .... why the hell do you talk about M5S when you talk about Italy?

Penso sia più remunerativo vendere 500 BTC a 0€ (quando il valore di BTC sta a 1kkk) piuttosto che traferirmi in Italia con M5S al potere.

I think Italy and France will follow Germany on accepting Bitcoin (and alts) as legal payment method and then all other EU members will follow them.
In the end of the year, we may have completely regulated EU acceptance. But Capital gain (Bitcoin taxation) level will vary as is now. Like ~10% in Eastern Europe to ~20 in Western Europe.

the only thing that a wise Italian government could do to cut an immense growing debt would be to start
buying and/or mining BTC and probably they are already doing it right now (at the same time while they
are projecting new taxes on crypto)

I have mentioned many times over that it's inevitable for governments to impose laws and other regulations against cryptocurrencies and activities related to it. It is due to the fact that the cryptocurrency market has been really becoming recognized as a legit and high-profit producing market that countries want to also exploit. A government, as one of its functions, is also a business entities that need funds to continue to run. For most parts, a government's money comes from taxes and other business systems in their locality. Therefore, it would not be a good idea to bank on something that is up-and-coming and is giving good profit. And for a government to control that market system, they would impose specific laws and regulations on it, so that they would have the leverage.

M5S is also anti-euro. But I don't think they'll form the govt, as most other parties don't want to work with them.

As for regulations, the previous govt was proposing to get all crypto businesses to register with the govt and provide info on large transactions etc:

https://www.coindesk.com/italian-crypto-businesses-to-register-under-proposed-new-rules/

Whether that goes ahead is anyone's guess.

Cryptocurrencies are still unregulated in Italy. Our governors are too busy arguing with each other to try to legislate to some actual technological matters that can help grow the country and create new jobs. This is also the reason why all blockchain Italian start-up moved their registered office to Switzerland to run their ICO (like Friendz recently) since they have an actual legislation on ICOs and cryptocurrencies.

Given that it is still not really clear if cryptocurrencies gains for private individuals are subject to capital gain or not (in Italy we would have a 26% flat tax on all capital gains). A resolution from ADE (Italy's tax offices) stated that private individuals are not subjected to taxation, some lawyers say that you are not taxed if you own less than 51000 euro in crypto, others that you have always to pay the 26%...

It seems that a lot of people that talk about Italy have no idea about the italian situation...
Btw, of course I don't want to start here a debate about italian politics.
The only thing that I can assure you it that at present bitcoin is the last of the italian problems...

It seems to me that it is very difficult for the government of any country to control the Crypto-currency, because it works completely on a different level. It is not so easy to catch people who use it and do not pay taxes, or use fraudulent schemes based on it

The plans of the Italian Ministry of Finance to conduct a "regular study", under which at first will get a certain number of operators in the crypto sector.
Submitted for discussion the draft law explains that digital currencies are a "means of exchange to purchase products and services", which is not issued by the Central Bank or some other municipal body. The attached disclaimer States that cryptocurrencies "are not necessarily linked to a currency that is a legal tender". Regulators indicate compliance with the revised regulatory framework of the latest EU Directive to combat money laundering, which provides for more stringent regulations to prevent financial crime.