Italy plans to impose a 26% capital gains tax on cryptocurrency gains above 2,000 euros

According to BlockBeats, on December 1, Italy will strengthen the regulation of digital assets and expand the tax on crypto transactions from 2023. A provision in the country's 2023 budget proposal plans to impose a 26 percent capital gains tax on digital assets with profits of more than 2,000 euros ($2,062.3). The bill also gives taxpayers the option of reporting a 14 percent tax on the value of their assets by Jan. 1, 2023. The aim is to encourage Italians to declare their digital holdings on their tax returns. The proposed law, which is likely to be amended in parliament, also includes disclosure obligations and extends stamp duty to cryptocurrencies.