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Italy has recently made headlines by implementing a significant tax increase on cryptocurrency earnings, raising alarms among investors. Under the new 2025 Budget Law, capital gains from Bitcoin and other crypto will now be taxed at a hefty 42%, a jump from the previous rate of 26%.
This change, which has been officially enacted by President Sergio Mattarella, is part of the government's strategy to enhance revenue through the regulation of the booming crypto market.
The new legislation consists of 144 articles, with Article 4 specifically focusing on the taxation of digital services and cryptocurrency activities. This tax will take effect on January 1, 2025, and is expected to affect those involved in crypto trading, leading many to ponder the implications for the future of cryptocurrency investments in Italy.
Deputy Minister of Economy Maurizio Leo previously highlighted that the government anticipates raising approximately €68 million (around $73 million) from these new tax measures, as part of its initiative to explore alternative revenue streams.
In addition to the crypto tax, the law also eliminates the minimum revenue threshold for Italy's Digital Services Tax (DST).