PANews December 11 news, according to Reuters, Italy's ruling party said on Tuesday that Italy will scale back plans to increase cryptocurrency capital gains taxes after criticism from the affected industries and debate within the economic minister's party. Giulio Centemero, a member of the coalition ruling League party, and Federico Freni, deputy finance minister, said in a statement: "During the work of parliament, the tax increase will be significantly reduced."
Previously, according to the country's 2025 budget, which will be approved by parliament at the end of December, the Ministry of Finance intends to increase the capital gains tax rate on cryptocurrencies such as Bitcoin from 26% to 42%. But the League said that this move could promote the development of the shadow economy. On Tuesday, Centemero and Freni said: "Don't be prejudiced against cryptocurrencies anymore." Political sources said that the government may even decide to keep the 26% tax rate unchanged.
