Italy Moves to Reduce Proposed Crypto Tax Hike to 28%

Italy's government has revised its proposed cryptocurrency capital gains tax increase, lowering it from 42% to 28%.

This move, backed by the League, a coalition partner of Prime Minister Giorgia Meloni, aims to maintain Italy’s appeal to crypto investors and businesses.

The original 42% tax increase, part of the 2025 economic plan, had raised concerns about the country’s competitiveness in the global crypto market. Industry leaders argued that a lower tax would better attract crypto-related businesses, including blockchain and digital asset trading. The revised 28% rate is closer to the current 26% capital gains tax, potentially easing the tax burden on investors.

Additionally, Forza Italia, another coalition partner, has proposed completely eliminating the tax hike, while the League’s amendment calls for a working group to improve crypto tax transparency and investor education.

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Globally, governments are also ramping up crypto regulations. In Kenya, the Revenue Authority has increased efforts to track and tax unregulated crypto transactions, while South Africa is enhancing its monitoring and tax capabilities.

Kosta Gushterov