Buying, trading, and storing cryptocurrencies in Italy is legal. Italy has 8 trusted exchanges available for you to sign up for, with the most popular being Coinbase and Binance. Binance Holdings Ltd. has received regulatory approval for a local entity from Italian authorities, It is estimated that 1.33 million people, 2.26% of Italy's total population, currently own cryptocurrency.The Mediterranean country had 78 cryptocurrency withdrawal machines across the country. They are different from traditional cash machines in that they do not connect to a bank account but connect users to a Bitcoin wallet or exchange.