Odaily News Italy plans to raise capital gains tax on Bitcoin investments from 26% to 42%. Italian Deputy Finance Minister Maurizio Leo said in a budget planning conference call in Rome that the move was because "the phenomenon is spreading." Previously, the Italian government planned to raise 3.5 billion euros (about 3.8 billion U.S. dollars) in budget funds by imposing additional taxes on banks and insurance companies, and said that most of the amount would be raised by postponing tax breaks. (Bloomberg)