ITALY SCALES BACK PLANS TO HIKE CRYPTO TAX RATE

Summary from the TLDR Crypto newsletter

Italy may reduce its proposed crypto capital gains tax increase from 42% to 28%. Prime Minister Giorgia Meloni's government is likely to accept the lower rate. The proposed 28% tax, down from the earlier 42% plan, still awaits review and approval by Italian lawmakers. It follows a recent increase to 26% in 2023.