Italy Will Tax Crypto Trading Gains 26%

increasing crypto trading taxation and digital asset regulation

Italy will tax digital asset gains over 2,000 euros (about $2,062) at 26%.

Digital coins and tokens are taxed as foreign currency in Italy, but not at 26%.

Italy's 2023 budget includes the new plan. Bloomberg reported that Prime Minister Giorgia Meloni's bill

paying a 14% tax to encourage Italians to declare digital assets in their tax returns.

The proposed law includes disclosure requirements and stamp duties for cryptocurrency.

After the FTX exchange collapsed this month, the cryptocurrency industry was under scrutiny.