Reuters: Italy will reduce the increase in capital gains tax on cryptocurrencies

ChainCatcher news, according to Reuters, Italy's ruling party stated on Tuesday that after criticism from affected industries and internal debates within the Minister of Economy's party, Italy will scale back its plans to increase capital gains tax on cryptocurrencies. Giulio Centemero, a member of the ruling League party, and Deputy Minister of Finance Federico Freni said in a statement: "During the parliamentary work, the tax increase will be significantly reduced."

Previously, according to the country's 2025 budget, which is set to be approved by parliament by the end of December, the Ministry of Finance intended to raise the capital gains tax rate on cryptocurrencies like Bitcoin from 26% to 42%. However, the League party stated that this move could promote the development of the shadow economy. On Tuesday, Centemero and Freni said: "Do not hold biases against cryptocurrencies anymore." Political sources indicated that the government may even decide to maintain the tax rate at 26%.