Cryptocurrencies: the Italian Revenue Agency is sending compliance letters.

For years, crypto-assets were considered by many to be a “parallel world.” That time is over.

The Italian Revenue Agency has launched an initial operational phase of audits, sending compliance letters concerning the 2023–2024 tax years to Italian taxpayers who may have held or transacted in crypto-assets without proper tax monitoring or without declaring any related income.

Data such as tax identification numbers, transactions carried out, and balances were already accessible to the tax authorities through OAM reporting flows, but the framework has now become even more structured with DAC8 and CARF. Starting in 2027, automatic international exchanges of information will begin, covering users, tax residency, transactions, and transfers.

Anyone holding Bitcoin or other crypto-assets should review their position: RW form reporting, income declarations, source of funds, and transaction history.

The message is clear: the anonymity of cryptocurrencies is over. Compliance has begun.

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