In recent months, the topic of stablecoins has become central to the debate on cryptocurrency taxation in Italy. Not so much for their use as a payment tool or for stabilizing volatility, but rather for the fiscal distortions that some recent regulatory choices are causing. During an Instagram live session, tax expert Stefano Capaccioli analyzed one of the most controversial aspects of the current regulation: the tax treatment of E-money tokens, particularly those denominated in euros, such as EURC, compared to dollar-pegged stablecoins, like USDC.