Converting cryptocurrencies into stablecoins like USDT (Tether) and DAI is currently permitted. However, such conversions could be considered taxable events under Italian tax law in future. So stay tuned guys!

In Italy, cryptocurrency transactions are subject to taxation. As of January 1, 2025, capital gains from crypto assets are taxed at a rate of 26%, with the exemption for gains under €2,000 removed.
The European Union's Markets in Crypto-Assets (MiCA) regulation, effective from December 2024, introduces comprehensive rules for crypto assets, including stablecoins. MiCA aims to enhance transparency and consumer protection across member states.

Converting cryptocurrencies into DAI is currently permitted in Italy because DAI is a decentralized stablecoin, pegged to the US dollar and backed by overcollateralized assets through the MakerDAO protocol. The MiCA (Markets in Crypto-Assets) regulation, effective in late 2024, will standardize the treatment of stablecoins across Europe. Until then, DAI remains compliant as a non-custodial stablecoin under current Italian regulations.

It's essential to comply with tax regulations and report all crypto-related activities accurately. Consulting with a tax professional can provide personalized advice tailored to your situation.

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