The law implicitly mentions Bitcoin miners, who must also pay taxes.
Now the project will be debated in the Italian Parliament.
Italian President Sergio Mattarella signed the budget bill for 2025, which proposes a 42% increase in profits with bitcoin (BTC) and cryptocurrencies. This project will now be debated in the Italian Parliament.
The budget for next year reflects an expenditure of approximately 30,000 million euros. To finance this figure, the government hopes to raise about 3.5 billion euros through a tax on banks and insurers.
This financial scenario is presented without the imposition of new taxes on citizens, according to the project. However, it is offset by the significant 42% increase in cryptocurrency capital gains tax, which would be the highest tax of its kind approved by a country.
On October 15, the Minister of Finance, Maurizio Leo, mentioned during a press conference that the bitcoin “phenomenon” is spreading throughout the country. As reported by CriptoNoticias, the minister highlighted the growing adoption of cryptocurrencies in Italy.
On the other hand, the bill makes implicit mention of Bitcoin mining, indicating that it will also be subject to income tax.
According to the text of the project, “those who carry out economic activities in the territory of the State that generate income from digital services are liable for the tax on digital services.”
This means that Bitcoin miners, whose activity generates income through digital transactions, They will have to pay taxes on their income.
The debate in the Italian Parliament will be crucial to determine the viability and impact of this tax increase. The measure will not only affect individual investors, but also companies and organizations that operate with cryptocurrencies in the country.
The 42% increase in taxes on cryptocurrency profits is among the most aggressive tax measures in the world, directly affecting to a sector that has grown exponentially in recent years. This increase could have effects, both on local investment and on the attraction of foreign capital to the Italian cryptocurrency market.
This bill, if passed, would set a precedent for cryptocurrency regulation in Europe, and could inspire other countries to follow a similar path. The expectation is that the Italian Parliament will take into account all economic and social variables before making a final decision.
This article was created using artificial intelligence and edited by a human Editor.