Italy intends to increase the capital gains tax on Bitcoin from 26% to 42%. During a news conference at Palazzo Chigi on October 16, Deputy Finance Minister Maurizio Leo discussed the country’s new budget bill, which has been approved by the Council of Ministers. He noted that Prime Minister Giorgia Meloni’s cabinet took this step...Read More
According to a CoinGecko research, Italy is the most expensive nation for crypto miners since it takes almost $210,000 in electricity to produce one BTC. Other European countries like Austria, Belgium, Denmark, and Germany follow closely as the most unprofitable regions. It is interesting to note that bitcoin mining is profitable in just 62 out...Read More
AS Roma – a top Italian soccer club – is now accepting payment in DigitalBits (XDB), the self-described “leading blockchain for brands.” Payments will be taken across five of the club’s flagship retail stores, including Via del Corso, Piazza Colonna, Ottaviano, Porta di Roma, and Fan zone at Stadio Olimpico. AS Roma Accepts Crypto Per...Read More
The government of Italy is reportedly looking to enforce strict rules on the local crypto space by imposing a 26% tax on profits generated from digital asset trading. However, residents who earn less than €2,000 ($2,090) per year from dealing with bitcoin or altcoins will be excluded from the possible upcoming legislation. Italy’s Next Crypto...Read More
The digital asset exchange aggregator – Coincub – conducted a study to find out which countries offer the friendliest cryptocurrency tax policies to their citizens. Germany ranked as the world’s crypto tax heaven, while Italy and Switzerland were respectively second and third. Taking a look at the opposite corner, Belgium is the worst nation for...Read More
Leading stablecoin issuer Tether has hired accounting firm BDO Italia to replace Cayman Islands firm MHA Cayman in overseeing its attestation reports for USDT reserves. The USDT issuer said it plans to release its attestation reports every month, replacing the previous quarterly reporting arrangement. Tether Hires Major European Auditor Founded in 1965, BDO Italia is...Read More
The top financial regulator in Italy – Organismo Agenti e Mediatori (OAM) – greenlighted the digital asset exchange CryptoCom to provide a range of products and services to Italian clients in compliance with domestic law. In addition, the German investment platform – Trade Republic – also expanded its presence to the southern European country, registering...Read More
Leading American cryptocurrency exchange Coinbase said it had received regulatory approval from the Organismo Agenti e Mediatori (OAM) to operate as a crypto asset provider in Italy. The license allows the exchange to continue to offer its services to customers in the country. One of the First Announcing the development today, Coinbase said it had...Read More
The Italian authorities shut down 32 Telegram groups that offered fake COVID-19 passes to thousands of people. The criminals preferred cryptocurrency payments for the illegal service. Cryptocurrencies in Exchange for a Green Pass According to a recent report by Reuters, the Italian police halted the operation of several groups on the online messaging application Telegram....Read More
Two of the biggest Italian digital payment companies Nexi and SIA have reportedly high-fived for a new deal to create a domestic payments group with 1.8 billion euros ($2 billion) in revenue. The new firm’s executives plan to expand in Europe and compete with other digital payments companies. Burying The Hatchet Viewed as the two...Read More
Central banks all over the world have begun their preparations for a cashless society. In Italy, a trial for a digital Euro may commence a lot sooner than originally expected. Various Italian banks want to pilot a central bank digital currency. Italian Banks Push the Envelope Somewhat surprising, given recent remarks by the Federal Reserve....Read More
Europeans are feeling more optimistic about the future of bitcoin. A recent study shows that two thirds of them believe cryptocurrency will remain in existence in 10 years time, with some convinced BTC will become a key part of the economy, both as a security and investment. Crypto exchange Bitflyer, which produced the study, said...Read More
With the recent coronavirus spread and its overall effect on the global economy, some people believe the powers that be are preparing a financial reset. During these times, a number of bitcoiners think a bitcoin-induced form of fiat currency demonetization will take place, otherwise known as ‘hyperbitcoinization.’ However, a few speculators believe digital assets in...Read More
Bitcoin and other cryptocurrencies can often be used to support charitable events. During the novel coronavirus outbreak, Italy’s Red Cross is accepting Bitcoin donations for an advanced medical post. It is evident that a lot of countries will need help to keep the novel coronavirus in check. Helping Italy With Cryptocurrencies In Italy, the situation...Read More
China’s Hengfeng Bank is set to get a $14.2 billion bailout from both Chinese government and foreign investors. An emergency decree has been approved to bail out southern Italy’s biggest lender, Banca Popular di Bari. Germany continues to struggle with bailout pains, as regional bank Nordlb finds itself now depending on another capital injection. None...Read More
The Italian cabinet has decided to financially assist Popolare di Bari bank with a 900 million euro-large capital injection. The establishment is the biggest lender in the southern part of the country. According to new reports from Italy, this Sunday, the country’s government decided to approve an emergency decree regarding one of its major lenders,...Read More
Italy, one of the world’s largest economies, has faced plenty of financial challenges in the past decade. That’s probably one of the reasons why cryptocurrencies have been faring better there than in other European countries. Italians love cash but are also warming up to its decentralized digital alternative. The number of businesses accepting crypto payments...Read More
