Bank of Italy Official Calls for New Rules Taxing Crypto Assets

Italy needs a dedicated law clarifying and expanding its rules for taxing crypto assets, the head of the Bank of Italy’s tax analysis division said Monday.

Crypto activity is currently regulated by a patchwork of rules from different sources, including Europe’s value-added tax laws, Italian tax authority circulars and European court decisions, Alessandra Sanelli said. But even those fail to address key revenue sources, such as cryptocurrency mining and non-fungible tokens, she added.

“This is a world in constant evolution,” Sanelli said. “Therefore, the tax legislation that emerges should be as flexible as possible, to allow adaptation and accommodate ...