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Apparently, protestantism used to gather some heat there in Italy. However, with the Vatican Council II, relations improved and protestants aren't as persecuted as much.
That was two decades ago. These days, a more relaxed Vatican and an unprecedented influx of immigrants has nudged open the doors of acceptance for Protestant Christianity.
Note #6186 from PCUSA NEWS to PRESBYNEWS
There are a total of about 725,000 protestants in Italy, most of whom are Assemblies of God (400,000). There are also about 175,000 mainline Protestants, the largest and oldest of which are the Waldensians.
The Waldensian church has roots dating back to the 12th century, but they aligned themselves with Calvinism in the 16th, which transformed the denomination.
There is a fascinating article that I think you might find interesting.