Italy's Deputy Finance Minister, Maurizio Leo, announced a tax increase on capital gains from cryptocurrencies to 42% from 26%, emphasizing the growing prevalence of bitcoin.
Leo highlighted during a conference call that the Italian government's decision reflects the increasing adoption of bitcoin, stating, "the phenomenon is spreading" and necessitates regulatory adjustments.
As Italy looks to bolster its digital services tax, this tax hike on crypto investments is part of broader efforts to enhance revenue for its upcoming 2025 budget.
Despite the announcement of higher taxes on cryptocurrency capital gains, the price of bitcoin experienced a positive trend, surpassing $68,000, marking over a 12% increase.
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