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Italy revises cryptocurrency tax plans amid industry pushback and economic concerns

Italy has abandoned plans to raise the cryptocurrency capital gains tax from 26% to 42% due to significant opposition from lawmakers and industry stakeholders. Instead, proposals suggest capping the tax at 28% or maintaining the current rate, aiming to foster a supportive environment for the digital asset sector. Lawmakers advocate for progressive taxation and higher exemption thresholds to protect small investors while promoting innovation in the growing crypto market.
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