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Italy is gearing up to raise its capital gains tax on Bitcoin and other cryptocurrencies from 26% to 42%. This news came from Vice Economy Minister Maurizio Leo during a budget meeting for 2025. The extra revenue is meant to help fund support for families, businesses, and young people.
Big Changes in Crypto Taxation
Currently, crypto profits over €2,000 are taxed at 26%, but that’s set to change with this new policy. Cryptocurrencies were previously taxed like foreign currencies, which meant lower tax rates. Now, they’ll face much higher taxes under this reclassification.
Europe’s Growing Crypto Tax Crackdown
This move is part of a larger trend in Europe, where governments are cracking down on crypto taxes. In the UK, there’s talk of increasing crypto taxes from 20% to 39%. With such changes, Europeans will have to HODL more.
Cracking Down on Tax Evasion
Italy also plans to strengthen its fight against tax evasion, especially with stricter rules for cash transactions. The aim is to make the financial system more transparent and increase government revenue.
Despite these tax hikes, Prime Minister Giorgia Meloni reassured people that there would be no new taxes affecting the general population. The government will continue to lower taxes for workers and use funds from banks and insurance companies for healthcare and social support.
