Hyperliquid in Italy

The legal situation in Italy

Italy is not on Hyperliquid's restricted list and the frontend is not geoblocked. As an EU member state it applies MiCA (licensing for crypto-asset service providers; transitional periods ended by 1 July 2026) and the ESMA-coordinated national CFD measures, which ESMA said on 24 Feb 2026 likely cover crypto perpetual futures. CONSOB routinely orders ISPs to black out unauthorised financial and crypto websites: by 4 May 2026 it had blocked 1,681 sites since July 2019, 178 of them crypto-related; Hyperliquid was not found among them.

Key facts

• ESMA's 24 Feb 2026 public statement says crypto 'perpetual futures' are likely CFDs, so national CFD product-intervention measures apply: for retail clients of EU firms, leverage on crypto underlyings is capped at 2:1, with margin close-out and negative-balance protection.
• MiCA transitional periods ended EU-wide by 1 July 2026; crypto-asset service providers without MiCA authorisation must stop serving clients in the EU.
• CONSOB can order ISP blackouts of unauthorised sites (Decreto Crescita, 2019) and uses MiCA and Legislative Decree 129/2024 powers against unauthorised crypto services.
• As of 4 May 2026 CONSOB had blacked out 1,681 websites, including 178 crypto-asset sites; no blackout of Hyperliquid was found.
• Tax: Italy raised the tax rate on crypto capital gains from 26% to 33% from 2026.

Getting started in Italy

Hyperliquid's terms do not restrict this country, but that is not the same as a local licence. Check the national position above, then follow our guides to sign up (code POLYGOLD gives 4% off fees), deposit and place a first trade. Profits may be taxable locally; keep records of every trade.

Sources

• consob.it
• regulationtomorrow.com
• datalab.financemagnates.com
• blog.amlbot.com
• datawallet.com

General information, not legal advice. Check the regulator's own website before acting.

Frequently asked questions