Published by Global Banking & Finance Review®
Posted on December 10, 2024
1 min readLast updated: January 27, 2026
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Italy plans to reduce the proposed cryptocurrency tax hike from 42% to possibly maintaining the current 26%, following industry criticism and political debate.
ROME (Reuters) - Italy will scale back plans to increase taxes on cryptocurrency capital gains, ruling politicians said on Tuesday, following criticism from the affected industry and rows within the party of the economy minister.
"The tax increase will be significantly reduced during the parliamentary work," lawmaker Giulio Centemero and Treasury Junior Minister Federico Freni, both from the co-ruling League party, said in a statement.
Under the 2025 budget, to be approved by parliament by the end of December, the Treasury intended to hike taxation on capital gains from cryptocurrency such as bitcoin to 42% from 26%.
But the League said that such a move would risk boosting the shadow economy.
"No more prejudices about cryptocurrencies," Centemero and Freni said.
Political sources said the government might even decide to leave the 26% rate unchanged.
(Reporting by Giuseppe Fonte; Editing by Mark Porter)
The main topic is Italy's plan to reduce the proposed tax hike on cryptocurrency capital gains.
Italy is reducing the tax hike due to criticism from the cryptocurrency industry and concerns about the shadow economy.
The proposed tax increase was from 26% to 42% on cryptocurrency capital gains.
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