The Italian government announced plans to raise the taxes on crypto capital gains from 26% to 42%. Italy’s Deputy Minister of Economy Maurizio Leo shared his intention to increase taxes on cryptocurrency-related capital gains drastically, local financial news outlet Il Sole 24 Ore reported. If adopted, the measure would mean that profits from selling assets such as Bitcoin (BTC) would be taxed at 42%, as would the profits from staking. The details The Minister proposed the crypto tax hike as part of a broader coordinated action to generate additional revenue to support families, young people, and businesses in Italy.