Italy Reduces Proposed Crypto Tax Limit to 28%
In what is an important development for the country’s digital asset adoption, Italy has announced that it will reduce its proposed crypto tax limit to 28%. Indeed, Bloomberg reports that a new legal amendment will drop from the 42% that was initially proposed. While a change is still a possibility, the report notes that Italian Prime Minister Giorgia Meloni is “likely to approve” the dropped tax increase on cryptocurrency trades. Currently, the levy stands at 26%, the report states, while crypto executives argued against the ramifications of the previously proposed increase. JUST IN: Italy to cap crypto tax at 28%, reducing it from the initially proposed 42%. — Watcher.Guru (@WatcherGuru) November 12, 2024 Also Read: Top 3 Cryptocurrencies You Should Watch For This Bullrun Italy Likely to Drop Crypto Tax Limit Increase From 42% to 28% The digital asset industry has become a major talking point throughout 2024. In January, the United States approved the first cry...