This comes as Italy’s Deputy Finance Minister, Maurizio Leo, announced plans to increase the capital gains tax on Bitcoin and other cryptocurrencies to 42% from 26%. Leo said extra revenue is needed to suppo rt public services and address the country’s budget shortfalls.

Italy’s government made a bold move to tighten the screws on cryptocurrency profits, unveiling plans to increase capital gains taxes on Bitcoin and other cryptocurrencies from the current 26% to a staggering 42%.

The Italian government has proposed hiking capital gains tax on Bitcoin and other cryptocurrency profits to 42% from 26% in a move that shocked local investors.

Italy has announced a significant increase in the capital gains tax on Bitcoin and other cryptocurrencies, raising the rate from 26% to 42%. This change is scheduled to take effect next year and is part of the

Deputy Finance Minister Maurizio Leo said Wednesday that Italy plans to hike capital gains tax on cryptocurrencies like bitcoin (BTC-USD) to 42% from 26%, according to several media reports. The price of bitcoin (BTC-USD) appeared unfazed by the news,

Italy is ramping up its tax on Bitcoin. The government plans to raise the capital gains tax on Bitcoin from 26% to 42%. This decision is part of the effort to fund election promises and tackle the country’s fiscal deficit.