Denmark vs Italy
Crypto regulation comparison
Denmark
Italy
Legal
Legal
Cryptocurrency is legal in Denmark and regulated under EU frameworks including MiCA. Denmark has notably high tax rates on crypto gains, treated as personal income and taxed at rates up to 52%. The Danish Tax Council confirmed in 2018 that gains and losses on Bitcoin are taxable.
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
Capital gains
Tax Type
Capital gains
Tax Rate
37-52%
Tax Rate
26%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Finanstilsynet (Danish FSA), Skattestyrelsen
Regulator
OAM (Organismo Agenti e Mediatori), Consob, Banca d'Italia
Stablecoin Rules
Regulated under EU MiCA framework (Denmark is EU member but outside eurozone)
Stablecoin Rules
Regulated under EU MiCA framework
Key Points
- Crypto gains taxed as personal income at 37-52% (among the highest in the world)
- Losses on crypto can be deducted against gains
- Finanstilsynet supervises crypto businesses under the Danish AML Act
- Denmark does not have its own crypto-specific legislation beyond EU frameworks
- Skattestyrelsen (tax authority) actively monitors crypto transactions and issues guidance
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