Italian tax agency imposes reporting on private crypto wallets

On 22 June, Italy’s Agenzia delle Entrate enacted the EU DAC8 directive, requiring crypto‑service providers to automatically transmit detailed information on every transaction to the tax authorities. The new rules cover transfers to non‑custodial wallets such as hardware devices, linking the wallet holder’s real identity, tax residence and fiscal code to the movement of assets like Bitcoin.

Only a handful of operators – Banca Sella, CheckSig, Conio, CoinFlip and RIV Digital – are authorised to act as intermediaries, concentrating market access. Critics say the regime reduces user privacy, raises compliance costs for small firms and could deter digital‑nomads and crypto startups from operating in Italy.

Investors who move crypto to personal wallets or use DeFi services will now need to retain full documentation of purchases and transfers, as the tax authority can use the data to trace fund origins and combat evasion.