The tax authority lists the default flat rate on private investors’ crypto gains as 31.4%, comprising 12.8% income tax and 18.6% social levies. That rate applies to gains, not the full value exchanged. Investors can instead elect the progressive income-tax scale, and the existing exemption for annual disposal proceeds of no more than 305 euros would remain.

Single-Currency Tokens Are the Target

The amendment specifically targets exchanges in which the seller receives “electronic money tokens” as defined by Article 3 of the EU’s Markets in Crypto-Assets regulation, or related rights. MiCA defines those tokens as crypto-assets that seek to maintain a stable value by referencing one official currency.

The wording therefore covers…