Just-In: Italy Tightens Grip On Crypto, Raises Capital Gains Tax On Bitcoin to 42%

Italy has caused a bustle across the global crypto sector on Wednesday, raising tax orbiting virtual assets. In an unprecedented mover, President Georgia Meloni-headed country recently announced plans to increase capital gain tax on Bitcoin and cryptocurrencies to 42%. This significant hike, overflowing from an earlier tax rate of 26%, has tightened investors’ exposure to digital assets nationwide, raising market concerns.