Malta, Cyprus, Luxembourg, Belgium and Estonia are the tax havens for cryptocurrencies in Europe given the absence of taxation. In contrast, the rate is asphyxiating for some other countries like Germany and Denmark, both over 50%, and Italy, at 26%, which is just above the 20% European average. This is according to data from the Eurispes report. In Italy, the law has recently revised how cryptocurrencies are taxed. As of January 1, 2026, capital gains and other income realized through redemption, sale for consideration, exchange or holding of crypto-assets will be subject to a 33% tax rate. Thus, the current year will be a transitional period with the same rate as previously established, namely 26%, being confirmed. While, until 2024, income from crypto activity was not taxable if below 2,000 euros, starting in 2025 the realization of a capital gain will still involve a tax.