“Bitcoins cannot be confiscated”

It will cause discussion of the Supreme Court’s decision that Bitcoins are not confiscated assets because they have no legal value. User and Consumer Rights Association Aduc announced Consulta’s decision, signaling a serious short circuit between tax authorities and investors. But let’s go in order.

Bitcoin: seizure of business activities

It all started in May 2024, with the seizure of cryptocurrency by the Florence prosecutor’s office against a tax-evading taxpayer. A total of €120,638 from capital gains from business transactions involving Bitcoin.

The reviewing court initially rejected the defense’s objection and approved the preliminary injunction, but it later reached the Supreme Court. Judges of the Supreme Court with sentence no. Law No. 1760/2025 of January 17, 2025 decided to annul the seizure of Bitcoin, arguing that cryptocurrencies do not constitute legal tender. The decision therefore sent the matter back to the Florence court for a new review.

Sentence

Sara Astorino, Aduc’s lawyer and advisor, explains: “In granting the exception claimed by the taxpayer, the Supreme Court emphasized that cryptocurrencies have no legal value and therefore cannot be considered a valid means of payment with emancipatory effects.” Therefore, the Supreme Court ruled that the conversion into Bitcoin of the amount that could be seized in euros as proceeds of tax crime is illegitimate, and this is because state institutions do not have regulations that can authoritatively guarantee this. a stable tendency to overcome strong exchange rate fluctuations during conversion”.

In fact, Sara Astorino reminds us that cryptocurrencies “are not real money like the euros we withdraw from the ATM,” but “virtual money created when necessary.” “Currency that is not controlled by any authority and does not exist in banks because its operation is based on two principles: a set of computers that manage it and the use of strong cryptography to verify and secure transactions.” In addition, advisor Aduc also reminds that the seizure is an injunction that “can be of a preventive, probative or conservative nature” and its purpose is “to secure the asset or evidence and, in some cases, to ensure the recovery of sums.” This is quite difficult to guarantee when you are dealing with “something so abstract and temporary”.

Source: Today IT

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