**News Flash: Italy Eyes Bitcoin Tax Hike**

Italy's government is mulling a significant hike in the capital gains tax on Bitcoin investments, potentially raising it from 26% to 42%. Deputy Economy Minister Maurizio Leo revealed this during an Oct. 16 press conference at Palazzo Chigi. This change is part of Italy's new budget bill, recently approved by the Council of Ministers.

Key points:

- Proposed Bitcoin capital gains tax increase to 42%.

- Removal of the web tax threshold of 750,000 euros.

- The 2019 budget introduced a 3% levy on digital companies' revenue.

Stay tuned for updates as this story develops.