Andorra vs Italy
Crypto regulation comparison
Andorra
Italy
Legal
Legal
Andorra enacted the Digital Assets Act (Law 24/2022) providing a comprehensive framework for crypto. The AFA licenses exchanges, custodians, and stablecoin issuers. Aligning with EU MiCA.
Cryptocurrency is legal in Italy with a 26% capital gains tax on crypto profits exceeding €2,000 per year. VASPs must register with the OAM (Agents and Mediators Register). Italy was one of the first EU countries to require VASP registration and has aligned with MiCA.
Tax Type
Unclear
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
26%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Andorran Financial Authority (AFA)
Regulator
OAM (Organismo Agenti e Mediatori), Consob, Banca d'Italia
Stablecoin Rules
Regulated under Digital Assets Act with specific stablecoin licenses
Stablecoin Rules
Regulated under EU MiCA framework
Key Points
- Digital Assets Act (Law 24/2022) effective Oct 2022
- AFA licenses and regulates all digital asset service providers
- Three categories of stablecoins with specific licensing requirements
- Low electricity costs make mining attractive
- Aligning regulations with EU MiCA framework
Key Points
- 26% substitute tax on crypto capital gains exceeding €2,000 per year (since 2023 budget law)
- Italian government proposed raising crypto tax to 42% for 2025 but this was reduced back to 26%
- VASPs must register with OAM and comply with AML requirements
- Crypto holdings above €51,645.69 were previously the threshold; new regime simplified this
- MiCA framework applicable from December 2024