She wrote on X:
As we promised, there will be no new taxes for citizens. In addition, we will make the tax cut on workers structural, and 3.5 billion from banks and insurance companies will be allocated to Healthcare and the most vulnerable to ensure better services that are closer to everyone’s needs.”
It is still uncertain whether the new crypto tax policy will be effective. Countries like India, which introduced heavy taxes on digital assets, saw trading volumes drop significantly as investors turned to offshore platforms to escape the high tax burden. Meanwhile, the announcement has sparked backlash from Italy’s crypto community, with many users considering relocating to countries with more favorable tax environments, such as Dubai. Last week, The UAE exempted all crypto transactionsfrom having to pay value-added tax.
Tether CEO Paolo Ardoino voiced his frustration, sharing a meme that hinted at an exodus of crypto users from Italy to more welcoming jurisdictions. He later commented that Italy’s logic seemed to be that the more successful a sector becomes, the more it should be taxed. In a sarcastic tone, Ardoino added: “How dare [Italians] use Bitcoin as protection or a hedge against Italian financial policies.”
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