BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home CRYPTO

Italy Reduces Proposed Bitcoin and Crypto Tax from 42% to 28%; Here is Why

by Sham
November 12, 2024
in CRYPTO
Reading Time: 3 mins read
A A
3
SHARES
44
VIEWS
Share on XShare in TelegramShare on Reddit
  • Italy is reportedly set to reduce its crypto tax limit increase to 28%, amended from its previously proposed 42% increase.
  • The cookie consent information provided includes details on the purposes, data categories, storage details, and privacy choices related to various third-party vendors and their tracking technologies.
  • The website body contains information about how the website and third-party vendors use cookies and process personal data for purposes such as advertising, analytics, and improving services.

Italy is reportedly set to reduce its crypto tax limit increase to 28%, amended from its previously proposed 42% increase.

NEW: 🇮🇹 Italy will no longer increase taxes on Bitcoin $BTC and crypto to 42%, and will keep it at its original 28% pic.twitter.com/IqLrqWsHPY

— BlockNews (@blocknewsdotcom) November 12, 2024

Background

The Italian government had initially proposed raising the country’s crypto tax limit from 12.5% to as high as 42.5% in September 2022. However, after feedback from the crypto industry and stakeholders, the government has now decided to reduce this proposed increase to 28%.

Details of the Revised Tax Limit

  • The revised tax limit will be set at 28% for crypto gains over €2,000.
  • Gains below €2,000 will still be tax exempt, in line with the current framework.
  • The 28% rate is lower than the 26% capital gains tax rate that stocks and bonds are subject to in Italy.
  • The revised rate is seen as more favorable for Italian crypto investors and traders.

Industry Feedback on the New Rate

  • Crypto industry participants have welcomed the reduction. They see it as an acknowledgement by the government that high tax rates could stifle innovation.
  • Stakeholders are relieved that the government listened to feedback from the industry. The 42.5% rate was seen as excessive.
  • The 28% rate is still higher than in many other European countries. But it is an improvement from the initial proposal.

Impact on the Crypto Industry in Italy

  • The revised 28% tax rate is likely to support the growth of Italy’s crypto sector.
  • Excessive taxation could have driven activity underground or stifled adoption of crypto.
  • With the more favorable rate, crypto innovation and adoption is expected to continue flourishing.

Conclusion

The reduction of the proposed crypto tax increase in Italy from 42.5% down to 28% is a positive development. It shows the government’s willingness to find a balanced approach to crypto taxation. Though still high, the 28% ceiling is seen as more realistic and manageable by the industry. This should support continued crypto adoption in Italy.

Tags: Bitcoincrypto gainsCrypto Industrycrypto taxItaly
Tweet1ShareShare
Previous Post

Record Bitcoin Price Drives MicroStrategy Stock to Dot-Com Era Highs; Here is What’s Happening

Next Post

Bitcoin Price Dips as $1 Billion in Liquidations Rock Market Expectations

DON'T MISS THESE! HOT OFF THE PRESS

What Happened in Crypto This Week? Here is Everything Important You Need to Know
CRYPTO

What Happened in Crypto This Week? Here is Everything Important You Need to Know

July 19, 2025
XRP’s “Kaboom Phase” Might Just Be Getting Started
CRYPTO

XRP’s “Kaboom Phase” Might Just Be Getting Started

July 19, 2025
Litecoin Is Waking Up—And $120 Might Be Closer Than It Looks
CRYPTO

Litecoin Is Waking Up—And $120 Might Be Closer Than It Looks

July 19, 2025
Stellar (XLM) Hangs Tight at $0.47—But Is It Gearing Up for a Bigger Move?
CRYPTO

Stellar (XLM) Hangs Tight at $0.47—But Is It Gearing Up for a Bigger Move?

July 19, 2025
ONDO vs. Hedera (HBAR): Which Altcoin’s Got More Fuel Left in the Tank?
CRYPTO

ONDO vs. Hedera (HBAR): Which Altcoin’s Got More Fuel Left in the Tank?

July 19, 2025
Chainlink Joins SEC’s Crypto Task Force—What’s Coming Next?
CHAINLINK

Chainlink Joins SEC’s Crypto Task Force—What’s Coming Next?

July 19, 2025
Load More

Related News

What Happened in Crypto This Week? Here is Everything Important You Need to Know

What Happened in Crypto This Week? Here is Everything Important You Need to Know

July 19, 2025
XRP’s “Kaboom Phase” Might Just Be Getting Started

XRP’s “Kaboom Phase” Might Just Be Getting Started

July 19, 2025
Litecoin Is Waking Up—And $120 Might Be Closer Than It Looks

Litecoin Is Waking Up—And $120 Might Be Closer Than It Looks

July 19, 2025
Stellar (XLM) Hangs Tight at $0.47—But Is It Gearing Up for a Bigger Move?

Stellar (XLM) Hangs Tight at $0.47—But Is It Gearing Up for a Bigger Move?

July 19, 2025
ONDO vs. Hedera (HBAR): Which Altcoin’s Got More Fuel Left in the Tank?

ONDO vs. Hedera (HBAR): Which Altcoin’s Got More Fuel Left in the Tank?

July 19, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve Finance FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Web3 X xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.