Italy to Raise Taxes on Bitcoin Profits
Italy has made a significant move to increase the tax burden on cryptocurrency profits. The government has proposed raising capital gains taxes on Bitcoin and other cryptocurrencies from the current 26% to a substantial 42%.
This substantial tax hike, announced by Deputy Minister of Economy and Finance Maurizio Leo during the presentation of the 2025 Budget Law, has sent shockwaves through the cryptocurrency community.
The government has justified this decision as a necessary step to address budget deficits caused by years of lenient fiscal policies. Deputy Minister Leo explained that the rapid growth of cryptocurrency trading and the resulting gains have prompted the government to take action.
While the current tax rate on cryptocurrency gains aligns with that of traditional investments like stocks and bonds, the proposed changes could have a significant impact on investors.
