Italian lawmakers approve 26% capital gains tax on crypto: CoinDesk

Italy's Parliament has approved a 26% capital gains tax on crypto, according to a report from CoinDesk.

The tax, in the works since earlier this year, will be levied on profits in excess of 2,000 euros. 

Included in the measure is an incentive to declare such assets as of Jan. 1 whereby taxpayers would only pay a 14% levy. The Italian parliament approved the budget Thursday.

The 30-billion euro budget also includes funds to help ease the cost of energy amid an ongoing crisis in Europe, according to Bloomberg.