Italy is planning to raise the capital gains tax on Bitcoin from 26% to 42%, as part of the government’s efforts to finance costly election promises and reduce the fiscal deficit. Deputy Finance Minister Maurizio Leo announced the change during a conference call on Wednesday. The move is in response to the increasing popularity of Bitcoin, which Leo referred to as a “spreading phenomenon.” The European Union is preparing to implement new regulations for cryptocurrencies, known as MiCA, which is expected to be fully in effect by the end of this year. Despite the tax increase, Bitcoin’s value has risen, with the cryptocurrency experiencing a 17% increase in value over the past month.
Related Posts
Bitfinex, a popular cryptocurrency trading platform, has released a new update, version 1.105, which brings several improvements and bug fixes to the platform. The update aims to improve the user…
Title: Paxos and Injective Introduce Yield-Bearing Stablecoin, wUSDL, on Injective Network Paxos has announced the launch of the Wrapped Lift Dollar (wUSDL), a yield-bearing stablecoin, on the Injective Network. The…
Title: Solana’s PYUSD Stablecoin Market Value Declines by 40% to $618m The market value of PYUSD, a stablecoin operating on the Solana network, has dropped 40% to $618 million, according…
Title: Crypto Adoption Reaches All-Time High with Over 600 Million Holders A16z Crypto’s latest research report reveals that the number of active addresses and usage of cryptocurrency has reached an…
Dogecoin Rebound Gains Momentum As Experts Predict a $0.3 Breakout Investors have shown increased interest in digital assets such as Dogecoin as a rebound in the general market sees growth…
Neon EVM, an Ethereum Virtual Machine (EVM) on Solana, has adopted Solana Network Extension as a product category. The category of Network Extensions fills a significant gap in the Solana…
A dormant Bitcoin address, last active 13.3 years ago, has recently been activated. The address contained 15 0 BTC, valued at approximately $10.168 million today. In 2011, the value of…
Ripple Labs CEO Brad Garlinghouse has revealed the company’s future plans and its approach to [..]. In a recent interview, Garlinghouse expressed his confidence in Ripple’s position in the market…
Injective Announces Paxos’ Stablecoin Wrapped Lift Dollar (wUSDL) on Platform Injective has revealed that Paxos has introduced a new stablecoin, Wrapped Lift Dollar (wUSDL), to its ecosystem. The announcement was…
The Bitcoin Conference, the world’s largest Bitcoin-themed event, will take place in Abu Dhabi at the ADNEC Center on December 9-10. The first Middle East and North Africa conference will…