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Italy vs Japan

Crypto regulation comparison

← Back to map | Italy | Japan
Italy

Italy

Japan

Japan

Legal
Legal

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.

Japan is one of the world's most comprehensively regulated crypto markets. The Payment Services Act and Financial Instruments and Exchange Act govern crypto exchanges and tokens. Japan classifies crypto as "crypto-assets" and taxes gains as miscellaneous income at rates up to 55%, though reforms to lower this rate are under active discussion.

Tax Type Capital gains
Tax Type Income
Tax Rate 26%
Tax Rate 15-55%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator OAM (Organismo Agenti e Mediatori), Consob, Banca d'Italia
Regulator FSA (Financial Services Agency), JVCEA
Stablecoin Rules Regulated under EU MiCA framework
Stablecoin Rules 2022 stablecoin law requires issuers to be licensed banks, trust companies, or fund transfer agents
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
Key Points
  • Crypto exchanges must register with the FSA under the Payment Services Act
  • Crypto gains taxed as miscellaneous income at up to 55% (national + local tax)
  • Japan's self-regulatory body JVCEA sets industry standards for exchanges
  • 2022 stablecoin legislation (revised Payment Services Act) regulates stablecoin issuance
  • Government considering tax reform to apply a flat 20% separate taxation on crypto gains
Sources
Sources