Italy

Under Italian legislation, cryptocurrencies are identified as "digital representations of value not issued or backed by a central bank or public authority. They aren't necessarily tied to a legal tender but are accepted as a medium of exchange or for investment purposes and can be digitally transferred, stored, and traded."

This designation implies that while cryptocurrencies are legal in Italy, they aren't acknowledged as official payment methods or legal tender, thereby not enjoying the same status or protections as fiat currencies like the euro.

Nevertheless, this doesn't inhibit cryptocurrency users from leveraging them for payments, provided both transaction parties agree to their acceptance. Indeed, numerous Italian businesses and merchants, particularly within sectors such as tourism, hospitality, art, and fashion, accept cryptocurrencies as payment.

Italy is also a member of the European Blockchain Partnership (EBP), an initiative designed to foster the growth and application of blockchain-powered services throughout the European Union. The EBP is engaged in various projects, including the European Blockchain Services Infrastructure (EBSI), slated to offer a network of distributed ledger nodes supporting cross-border public services.