Italy imposes 42% tax on cryptocurrencies, affecting investors and miners

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Italy imposes % tax on cryptocurrencies, affecting investors and miners
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Italy imposes 42% tax on cryptocurrencies, affecting investors and miners
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The President of Italy, Sergio Mattarella, has signed a new bill establishing a 42% increase in taxes on profits made from cryptocurrencies, including Bitcoin (BTC).

The measure, which is part of the national budget for 2025, will go up for debate in the Italian Parliament and could become one of the most severe tax regulations in the world in the digital assets sector.

The Italian government seeks to raise around 3.5 billion euros through taxes on banks, insurance companies and now also on capital gains from cryptocurrencies.

The total budget for next year is around 30 billion euros, and the increase in the tax on cryptoassets appears as one of the main sources of financing. The new 42% rate will be applied to the gains of investors who buy, sell or transact with digital currencies.

Bitcoin and cryptocurrency mining will also be taxed

Italian Finance Minister Maurizio Leo highlighted the growth of the cryptocurrency market in the country, stating that the “Bitcoin phenomenon” is expanding.

As stated, the growing number of people investing and using cryptocurrencies justifies the introduction of a higher tax on the sector. This decision places Italy as one of the countries with the highest taxation on crypto assets. This taxation can impact both individual investors and companies operating in this market.

In addition to increasing taxes on cryptocurrency transactions, the bill also implicitly mentions the taxation of Bitcoin mining.

Miners, whose activities generate income through digital transactions, will also have to pay taxes on their profits. According to the text of the proposal, anyone who carries out economic activities that generate income through digital services will be responsible for paying these taxes.

The implementation of the 42% tax on cryptocurrencies is an aggressive measure and could have several impacts on the market. After all, local investors may reconsider their investments in digital assets. Meanwhile, companies working with cryptocurrencies can look to other jurisdictions with more favorable tax rules.

The increase in the tax burden could also affect the attraction of foreign capital to the cryptocurrency sector in Italy.

Italy imposes 42% tax on cryptocurrencies, affecting investors and miners

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Italy imposes 42% tax on cryptocurrencies, affecting investors and miners

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