Italy's Deputy Finance Minister, Maurizio Leo, announced that the government will increase the capital gains tax on cryptocurrencies such as bitcoin from 26% to 42%. This shift was reported by Reuters and Bloomberg.

The decision was made as the Italian cabinet recognized that the “phenomenon is spreading” referring to bitcoin during a recent conference call.

This change comes alongside Italy's efforts to strengthen its digital services tax, which aims to increase revenues in the upcoming 2025 budget.

In light of these developments, the price of bitcoin BTC remains resilient, exceeding $68,000, a first since late July.