Rishi Sunak’s government has already legislated to use stablecoins as a means of payment as he seeks to make the country a crypto hub.
A new directive aims to even up tax reporting in the EU for crypto operators, but some say the new requirements will burden many firms.
New OECD-inspired tax evasion plans take a step further than the MiCA but haven’t settled how to deal with foreign providers
European Central Bank executive board member Fabio Panetta reopened the call for a ban on cryptocurrencies that use energy-intensive mining as a consensus mechanism.
The 26% capital gains tax will be imposed on cryptocurrency trading profits larger than 2000 euros ($2,062.3).
The move follows a similar tax announcement from Portugal, which announced a hefty 28% tax on crypto gains in October.
Italy will impose a capital gains crypto tax of 26% on profits beginning in 2023. The new law will require crypto holders to disclose their current holdings and pay 14%…
After Portugal, another European country is set to toughen crypto regulations and further expand taxation on crypto trading. A provision in Italy’s 2023 budget plan seeks to levy a staggering…