Italy vs Yemen
Crypto regulation comparison
Italy
Yemen
Legal
Restricted
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.
Yemen has a restrictive environment for cryptocurrency due to ongoing conflict and fragmented governance. The Central Bank has warned against crypto use. International sanctions further restrict access.
Tax Type
Capital gains
Tax Type
None
Tax Rate
26%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
OAM (Organismo Agenti e Mediatori), Consob, Banca d'Italia
Regulator
Central Bank of Yemen
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
No stablecoin regulation
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
- Central Bank has warned against cryptocurrency use
- Ongoing conflict limits regulatory development
- International sanctions restrict access to crypto platforms
- No specific cryptocurrency legislation
- Very limited crypto infrastructure