Italy To Hammer Bitcoin Profits By Hiking Capital Gains Tax On Cryptocurrencies To 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. The government announced the tax hike as a part of its 2025 budget proposal to generate extra revenue to support public services. Deputy Minister Maurizio Leo told a press conference that it is needed to address the country’s budget shortfalls. Crypto Capital Gains Tax Would Be One Of The Highest In Europe If implemented, the tax would be one of the highest in Europe on crypto profits, and it prompted harsh criticism from the community on social media platforms. “It’s a death move to increase taxes as that only serves to detract wealth and new ideas,” said macro trader and investor Jason Pizzino on X. “Italy is a dying state.” Italy is a dying state. It's a beautiful IRL museum to visit as a tourist. Note that I am an Italian citizen. I love the place. But no one cares if they rai...