Italy Set to Scale Back Planned Tax Hike on Crypto Capital Gains: Reuters

Italy is acceptable to trim its planned taxation summation connected crypto superior gains, <a href="https://www.reuters.com/markets/currencies/italy-scale-back-tax-hike-cryptocurrency-capital-gains-lawmakers-say-2024-12-10/" target="_blank">Reuters reported connected Tuesday</a>.

Two months ago, the authorities was intent connected raising the taxation <a href="https://www.coindesk.com/policy/2024/10/16/italy-to-raise-capital-gains-tax-on-crypto-to-42-from-26-reports" target="_blank">to 42% from 26%</a> by the extremity of December.

"The taxation summation volition beryllium importantly reduced during the parliamentary work," lawmakers Giulio Centemero and Federico Freni, a inferior curate astatine the Treasury, said successful a connection according to Reuters.

The determination to summation the superior gains taxation was inspired by the rising popularity of investments successful crypto, particularly bitcoin, which climbed supra <a href="https://www.coindesk.com/business/2024/12/05/bitcoin-at-100-k-industry-reaction" target="_blank">$100,000 past week</a>. The “phenomenon is spreading," <a href="https://www.coindesk.com/policy/2024/10/16/italy-to-raise-capital-gains-tax-on-crypto-to-42-from-26-reports" target="_blank">Deputy Finance Minister</a> Maurizio Leo told Bloomberg successful October aft announcing the news.

CoinDesk reached retired to Centemero and Freni for a comment.