Italy vs Lithuania
Crypto regulation comparison
Italy
Lithuania
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.
Cryptocurrency is legal and regulated in Lithuania. The Bank of Lithuania oversees VASPs under AML regulations and has been an early mover in crypto regulation within the EU. Lithuania attracted a large number of VASP registrations due to initially favorable conditions, though it tightened requirements significantly in 2022-2023. The MiCA framework now applies.
Tax Type
Capital gains
Tax Type
Capital gains
Tax Rate
26%
Tax Rate
15%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
OAM (Organismo Agenti e Mediatori), Consob, Banca d'Italia
Regulator
Bank of Lithuania (Lietuvos Bankas)
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
Regulated under 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
Key Points
- VASPs must register with the Bank of Lithuania under AML/CFT law
- Capital gains from crypto taxed at 15% personal income tax rate
- Lithuania became a major EU hub for crypto companies; over 500 VASPs registered by 2022
- Tightened VASP requirements in 2022-2023, including local substance and capital requirements
- MiCA transition underway from December 2024
