Italy will reduce the tax increase on cryptocurrency capital gains tax

According to Reuters, the ruling party in Italy announced on Tuesday that it will scale back plans to increase the capital gains tax on cryptocurrencies, following criticism from affected industries and internal debates within the economy minister's party. Giulio Centemero, a member of parliament from the coalition party, and Federico Freni, the Deputy Minister of Finance, stated in a statement that "the tax increase will be significantly reduced during parliamentary work Previously, according to the 2025 budget that the country will receive parliamentary approval by the end of December, the Ministry of Finance plans to increase the capital gains tax rate for cryptocurrencies such as Bitcoin from 26% to 42%. But the Alliance Party stated that this move may promote the development of the shadow economy. On Tuesday, Centemero and Freni stated, "Stop being biased against cryptocurrencies." Political sources suggest that the government may even decide to maintain the 26% tax rate unchanged.