Italy Dropped a 42% Crypto Tax Bomb

Italy’s gov just slapped a 42% tax on Bitcoin gains, up from 26%.

They justified the move by saying it’s to fund “youth” and businesses, though young investors are reportedly not feeling much of that love right now.

Watch out for whales jumping ship to offshore platforms - same deal as what happened in India post-2022.

But here’s the twist: Bitcoin still pumped 4% after the news, touching $67K.

Will Italy’s crypto scene survive this?

Source: Cryptonews