The Regularisation Of Cryptocurrencies Under The Budget Law 2023

Overcoming the previous approach of the Italian Revenue Agency, which wanted to equate them with foreign currencies, the Budget Law 2023 (No. 197/2022) definitively placed crypto-currencies in a new macro-category of instruments called "crypto-assets", i.e. "a digital representation of value or rights that can be transferred or stored electronically, by using distributed ledger technology or similar technology".

It is a category in which instruments with radically different characters and functions are lumped together under one discipline: from NFTs to bitcoins to tokens that enable voting in the context of a DAO.

While from this perspective the approach offered by the Budget Law is questionable, from another perspective the same approach brings with it two useful elements for those who have invested or intend to invest in cryptocurrencies: (i) the possibility of redetermining the tax value of crypto assets by realigning it to the current value by paying an ad