November 22, 2024
NEWS: Italy’s finance minister defends hiking tax on cryptocurrency profits to 42% #ItalyFinance

NEWS: Italy’s finance minister defends hiking tax on cryptocurrency profits to 42% #ItalyFinance

CashNews.co

BY GIUSEPPE FONTE

Italy’s economy minister has defended his decision to raise taxes on cryptocurrency capital gains as part of next year’s budget, despite pressure from some lawmakers in his own party to backtrack.

Giancarlo Giorgetti said savers should make a distinction between investments that finance tangible projects and cryptocurrencies, whose value he said is completely disconnected from underlying assets.

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