Cryptocurrencies run, but they are no longer “tax free”: the Meloni government taxes them at 26%
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The Meloni government taxes cryptocurrencies
Judging by the double-digit performances they have been achieving since the beginning of the year, a new spring seems to have begun for cryptocurrencies. Just to mention the first two cryptocurrencies by capitalization, bitcoin and ether (it is the token of the Ethereum network), the 2023 yields mark +80% and +60% respectively (data updated to April 12). And in view of the fourth halving (the halving of production) that will “hit” bitcoin in 2024 (estimated in April), the upward trend may not be over. But from this year the capital gains realized on direct investments in cryptocurrencies (through a broker or an exchange, therefore) will no longer be “tax free”. The 2023 Budget Law approved on 29 December 2022 in fact established in paragraph 126 that “capital gains and other income realized through repayment or transfer for consideration, exchange or holding of crypto-assets, however denominated”, will be taxed at 26% , like other other income. The tax, which will concern all crypto-assets (therefore in addition to currency tokens also utility tokens and NFTs), will only apply to capital gains exceeding 2,000 euros.
30 Apr 2023
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