Italy is preparing to increase the capital gains tax on Bitcoin and other cryptocurrencies to 42%, according to Deputy Finance Minister Maurizio Leo, who shared the news during an Oct. 16 conference. Leo explained that as cryptocurrencies, particularly Bitcoin, gain popularity, the government anticipates raising the withholding tax rate from its current 26% to 42%. […]
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Tether CEO slams Italy plan to increase capital gain tax on Bitcoin to 42%