Italy is planning to tighten regulation around cryptocurrencies by taxing capital gains beginning in 2023.  According to the European country’s proposed budget for next year, all digital currency profits above £2,000 will be subject to a 26% tax levy. 

The provisions also declared that Italian investors who declare their digital asset holding by 2023 will enjoy a lower tax rate. Prime Minister Giorgia Meloni believes lowering the rate will encourage more citizens to declare their crypto asset holdings. 

(by Richard Adrian)