# Taxation in Italy for conversion into stablecoins considered EMT

**URL:** <https://discuss.koinly.io/t/taxation-in-italy-for-conversion-into-stablecoins-considered-emt/24146>\
**Category:** Tax Questions\
**Created:** [January 16, 2025, 4:47pm UTC](https://discuss.koinly.io/t/taxation-in-italy-for-conversion-into-stablecoins-considered-emt/24146 "2025-01-16T16:47:52Z")\
**Posts on this page:** 4\
**Page:** 1

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**Author:** ![Fabio\_Wild](https://yyz2.discourse-cdn.com/flex052/user_avatar/discuss.koinly.io/fabio_wild/32/13168_2.png) [@Fabio\_Wild](https://discuss.koinly.io/u/Fabio_Wild)\
**Post date:** [January 16, 2025, 4:47pm UTC](https://discuss.koinly.io/t/taxation-in-italy-for-conversion-into-stablecoins-considered-emt/24146/1 "2025-01-16T16:47:52Z")

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The new Italian law stipulates that only crypto-to-fiat and crypto-to-stablecoin transactions, considered E-Money Tokens (EMTs), are subject to taxation. Even though the law has yet to clarify which tokens qualify as EMTs, it is advisable to consider all major stablecoins as EMTs (e.g., USDC and USDT).

Will Koinly implement these settings? For example, allowing users to separately define which conversions are taxable, such as conversions to USDC or USDT, but not those involving other cryptocurrencies that are not stablecoins.

Thanks!

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**Author:** ![Ulisse\_Ulisse](https://yyz2.discourse-cdn.com/flex052/user_avatar/discuss.koinly.io/ulisse_ulisse/32/13226_2.png) [@Ulisse\_Ulisse](https://discuss.koinly.io/u/Ulisse_Ulisse)\
**Post date:** [January 27, 2025, 5:54pm UTC](https://discuss.koinly.io/t/taxation-in-italy-for-conversion-into-stablecoins-considered-emt/24146/3 "2025-01-27T17:54:31Z")

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Ciao, posso farti una domanda fiscale

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**Author:** ![Aria\_Koinly](https://yyz2.discourse-cdn.com/flex052/user_avatar/discuss.koinly.io/aria_koinly/32/9150_2.png) [@Aria\_Koinly](https://discuss.koinly.io/u/Aria_Koinly)\
**Post date:** [January 17, 2025, 6:44pm UTC](https://discuss.koinly.io/t/taxation-in-italy-for-conversion-into-stablecoins-considered-emt/24146/2 "2025-01-17T18:44:15Z")

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Hi @Fabio_Wild

You can still use Koinly with a few adjustments as mentioned in the thread below on our feedback portal:

> **[support tax reporting for Italy | Feature requests (public) | Koinly](https://feedback.koinly.io/feature-requests/p/italy-balance-calculation-tax-requirement-support)**
>
> I want Koinly to automatically account for italian tax rules regarding cryptocurrencies. In my understanding: Crypto-to-crypto trades are not taxable unless

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**Author:** ![system](https://canada1.discourse-cdn.com/flex052/uploads/koinly_app/original/1X/7ac58e5593a7122893d066794a7254dcdb5ddb31.png) [@system](https://discuss.koinly.io/u/system)\
**Post date:** [March 28, 2025, 5:55pm UTC](https://discuss.koinly.io/t/taxation-in-italy-for-conversion-into-stablecoins-considered-emt/24146/4 "2025-03-28T17:55:10Z")

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