Italy Lowers Proposed Crypto Tax Hike to 28%

• Italy is considering a 28% tax on crypto gains, lower than the initially proposed 42%
• The decision aligns with recent U.S. election outcomes that favor digital assets
• Economic Minister Giancarlo Giorgetti supported the tax increase in October, though plans have since shifted

According to a recent Bloomberg report, Italian Prime Minister Giorgia Meloni is leaning toward a more moderate crypto tax increase—opting for 28% instead of the much higher 42%.

At first, we’d heard talk of a 42% hike, but now it seems that Meloni’s government is ready to go for 28%. This change, confirmed by sources close to the matter, would mean a smaller increase—just 2%—rather than the 26% many expected.

A More Moderate Increase: 28% Instead of 42%

Minister of Economy and Finance Giancarlo Giorgetti has been pushing for this new rate since October 31, standing behind the proposal as a balanced approach.

So, why the shift in plans? The answer isn't entirely clear. But here’s a thought: recent U.S. elections saw digital asset-friendly lawmakers winning seats, which boosted crypto prices across the board. It’s possible that this trend is playing into the Italian government’s softer stance.

Minister Giorgetti's Stance and Recent Developments

In short, I think we’re looking at a carefully measured tax adjustment that aligns with current market growth and broader global trends.

A 28% rate could keep Italy competitive and mindful of crypto’s impact, all while steering clear of the heavier 42% rate that might have stifled the market