Italy’s finance minister defends 42% crypto capital gains tax plan
Giancarlo Giorgetti said cryptocurrencies like Bitcoin presented a “very high level of risk,” highlighting the need for additional taxes.
Giancarlo Giorgetti, the Italian Minister of Economy and Finance, has pushed back against critics of a plan to raise the country’s capital gains tax on cryptocurrencies like Bitcoin to 42%.
At a World Savings Day event on Oct. 31, Giorgetti said digital assets presented a “very high level of risk,” defending the government’s decision to change the capital gains tax. Italy’s Council of Ministers approved a budget bill to increase withholding taxes for Bitcoin (BTC) from 26% to 42%.
Italian finance minister Giancarlo Giorgetti at World Savings Day on Oct. 31. Source: YouTube
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Author: Turner Wright
