The Italian government is working to reduce the proposed increase in the cryptocurrency capital gains tax from 42% to 28%. The initial high tax rate raised concerns about the impact it would have on Italy's digital asset market and its competitiveness globally. The amendment is supported by Prime Minister Giorgia Meloni's administration and is expected to attract crypto investors and businesses to Italy. Industry representatives emphasized the need for a lower tax rate to preserve Italy's appeal to investors and promote the growth of its financial innovation sector. The proposed amendment awaits government approval and is expected to be approved soon. Another coalition partner, Forza Italia, is also proposing to remove the tax increase entirely.



Other News from Today