Italy reduces the planned cryptocurrency tax hike from 42% to 28%, which significantly decreases the expected annual revenue by $18 million 💸📉

The Italian government plans to increase the cryptocurrency profit tax from 26% to 28%, instead of the previously proposed 42%, Bloomberg reports. According to sources, this decision reflects a revision of the initial plans, which were expected to generate $18 million annually. Meloni, the Prime Minister of Italy, seems ready to accept the increase in cryptocurrency taxes, but the final decision will require approval from parliament.