Italy to Raise Capital Gains Tax on Crypto to 42% From 26%: Reports
Summary
Italy will increase the tax on capital gains from cryptocurrencies like bitcoin to 42% from 26%. This decision was made by the Italian cabinet due to the growing prevalence of cryptocurrencies. The government aims to boost revenue for the 2025 budget by strengthening its digital services tax. Despite this tax hike, bitcoin's price continued to rise, gaining over 12% week-over-week and surpassing $68,000 for the first time since late July.
