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ITALY LOWERS PROPOSED CRYPTO TAX HIKE TO 28%: REPORT
Italy’s government is considering lowering its proposed tax hike on crypto trades, reducing the planned rate increase from 42% to 28%.
This shift comes as Prime Minister Giorgia Meloni’s coalition appears inclined to amend the tax proposal, which was initially part of October’s budget plan, to support the country’s growing digital asset sector, according to Bloomberg.
Italy’s steep crypto rate increase
Currently, crypto transactions in Italy face a 26% tax, but officials had proposed raising this to 42% to boost public finances.
Crypto industry executives, however, voiced concerns, arguing that such a steep tax rate could harm Italy’s competitiveness, especially as the European Union prepares to roll out comprehensive crypto regulations under the Markets in Crypto-Assets framework later this year.
The League, a junior party in Meloni’s coalition, proposed the 28% limit to balance the need for public revenue with industry growth, according to Bloomberg.
Forza Italia, another coalition partner, suggested eliminating the tax hike entirely for gains under €2,000 to encourage local participation in cryptocurrency without imposing heavy taxes. Both amendments aim to create a more favorable environment for Italian crypto investors.
This adjustment could strengthen Italy’s crypto market as other countries experiment with their own tax policies.
@ Newshounds News™
Source: Crypto News
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XRP NEWS: LEGAL EXPERT SAYS RIPPLE LAWSUIT CAN STILL BE WITHDRAWN OR SETTLED
The long-running legal case between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) could finally come to a close soon, especially with the recent election of President Donald Trump, whose pro-crypto stance could lead to a more favorable regulatory environment for digital assets.
If Trump appoints a new SEC leader who is more open to cryptocurrencies, it could accelerate the resolution of Ripple’s legal issues, potentially settling the case for the $125 million fine that was initially offered. This shift in leadership could also help clarify regulatory guidelines for digital assets, which would likely boost market confidence and institutional interest in Ripple’s technology.
Ripple’s legal victory, which ruled that XRP is not a security, was an important milestone for the company, although the SEC’s appeal is ongoing. Amid the confusions of the latest appeal, a user took to social media and asked, “Can the lawsuit still be settled or withdrawn after it has been put in front of the appeals court?”
Legal expert and attorney Fred Rispoli reacted and answered the above-mentioned question.
He wrote,
“Yes. Withdrawn or settled at any time. Withdrawn is unrealistic though. Likely to be settled.”`
What’s Next For XRP?
Currently, XRP is priced at around 60 cents, showing steady growth, with key support levels at 56 cents and 54 cents. The altcoin is up 19 percent this week, thanks to Trump again. Bitcoin has captured the $88k mark and is now heading towards the $90k level.
If Ripple’s case is resolved positively, XRP’s price could see a significant increase as clarity on regulations would attract more investors and institutions. CEO Brad Garlinghouse remains hopeful that a clearer regulatory framework will benefit Ripple and increase the adoption of XRP in global banking.
@ Newshounds News™
Source: Coinpedia
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🌱 COMMUNISM? TITLE 28 RULE 1 THE 45 COMMUNIST GOALS AS READ INTO THE CONGRESSIONAL RECORD 1963 | Youtube
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Source: Seeds of Wisdom Team RV Currency Facts
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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble
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