The Budget Law 2023 for the tax treatment of crypto assets, revaluation and their regularization

The new Italian Budget Law 2023 introduced a number of new retroactive(!) tax obligations for Italian residents holding cryptocurrencies.  The law stipulates that cryptocurrencies are no longer assimilated to foreign currencies, with the related obligation to register them in the RW form, introducing among the miscellaneous income a new taxable event that includes capital gains and other income from the sale of cryptocurrencies, if exceeding €2,000 for each tax period, realized through the redemption, sale, exchange or holding of crypto-assets.  In contrast, exchange between cryptocurrencies having the same functions is not taxed. Thus, despite the lack of clarity of the