Italy Proposes Bill to Levy 26 Percent Tax on Crypto Profits Exceeding $2,000

In a draft crypto law bill, Italy is planning to levy a 26 percent tax on crypto profits, exceeding over $2,000 (roughly Rs. 1.62 lakh). Once signed into a law, the proposed bill will allow tax-payers to bag some incentives by declaring their crypto holdings and paying a 14 percent tax.