Global #Italy

Italy’s government, under Prime Minister Giorgia Meloni, is expected to approve a more moderate tax increase on cryptocurrency trades, according to a Bloomberg report citing unnamed sources familiar with the matter.

In Italy, a proposed increase in the tax on capital gains from Bitcoin and cryptocurrency sales to 42% has sparked widespread discontent among crypto holders, traders, and even some politicians.

Italy has stirred the crypto community with its recent announcement to significantly raise the capital gains tax on Bitcoin and other cryptocurrencies.

Italy is taking a step forward in regulating cryptocurrencies with new guidelines based on the EU's MiCA framework. These rules aim to achieve a delicate balance between fostering innovation in the crypto sector, safeguarding financial stability, and protecting consumers.