US stablecoins pose bigger risk than Trump tariffs, says Italys finance minister

US stablecoins bypass banks, gaining traction in Europe. STABLE and GENIUS Acts advance in US Congress. European CBDC efforts lag behind US regulatory push. Italy’s finance chief has sounded the alarm over the rising influence of US dollar-backed stablecoins in Europe, arguing that they pose a greater threat to financial sovereignty than the trade tariffs […]

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Italys Finance Minister Warns: US Stablecoins Poses Greater Threat than Tariffs

The United States’ stablecoins pose a significant risk to the Euro, according to Italy’s Minister of Economy and Finance. Stablecoins are digital currencies that are tied to a stable asset, such as the US dollar, to reduce price volatility. However, the Minister believes that these stablecoins could potentially threaten the Euro’s stability and disrupt the [...]

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Crypto Exchange Binance to Remove Privacy Coins From 4 European Markets

Multiple reports have revealed that Binance, the crypto exchange with the highest trade volume, has announced the removal of 12 privacy-focused cryptocurrencies from its markets in Spain, France, Poland, and Italy. Commencing on June 26, 2023, users residing in these four countries will no longer have the option to purchase or trade these privacy coins [...]

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BRICS Emerges as the World’s Largest GDP Bloc, Propelled by China’s Rapid Expansion

BRICS, a set of countries grouped as an alternative to the G7, is now the world’s largest gross domestic product (GDP) bloc, taking purchasing power parity into account, according to reports from Acorn Macro Consulting. Powered By China’s growth, the group now contributes 31.5% to the global GDP, while the G7 provides 30.7%. BRICS Countries [...]

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Italy blocks ChatGPT, investigates suspected violations

The move follows a recent data breach suffered by the AI platform on March 20, where user data was exposed to a user.

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Italy’s central bank calls for framework to prevent stablecoin runs

Italy’s top banking authority has called for a “robust, risk-based” regulatory framework for stablecoins, which could help prevent a worst case scenario — a “run” on stablecoins. The central bank’s recently released Markets, Infrastructures and Payment Systems report for June 2023 has called on regulators to apply the same financial conduct standards to stablecoin issuers [...]

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Bank of Italy Tips Polygon for Institutional DeFi Innovation

Polygon continues to be a leading choice for real-world blockchain applications.

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Bank of Italy leverage Polygon to help institutions experiment with DeFi

Key takeaways The Bank of Italy will use the Polygon blockchain to help institutions experiment with DeFi and asset tokenisation. The Bank will also use crypto custodian Fireblocks.  The Bank of Italy to help institutions experiment with DeFi The Bank of Italy’s innovation hub has partnered with Polygon Labs and crypto custodian Fireblocks to help […]

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Bank of Italy innovation hub supports research into security tokens on secondary markets

The Italian central bank’s Milano Hub has selected a project headed by Cetif Advisory and Polygon Labs in its second round of proposals.

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EU data watchdog warns of ‘hell’ scenario for US AI companies

Europe's data protection supervisor predicts trouble abroad and at home for U.S. AI companies that run afoul of GDPR.

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A Top Italian Football Club is Taking Payments in This Cryptocurrency

Buyers of AS Roma merchandise can pay and receive cash-back using DigitalBits (XDB).

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Italian Crypto Exchange The Rock Trading (TRT) Halts Withdrawals

The Rock Trading (TRT), a prominent crypto exchange in Italy, emailed its customers on February 17 to inform them that

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Crypto Flipsider News – 3AC Accusation; Genesis Arbitration; Italy 26% Tax; Ethereum Activity Falls; SCB Rejects FTX Claims

Read our crypto digest here.

Continue reading Crypto Flipsider News – 3AC Accusation; Genesis Arbitration; Italy 26% Tax; Ethereum Activity Falls; SCB Rejects FTX Claims at DailyCoin.com.

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Italy Taxes Cryptocurrency Capital Gains 26%

Italy's Senate authorized a 26% capital gains tax on crypto-asset transactions above 2,000 euros (roughly $2,13 at publishing). Crypto assets may be transferred and kept digitally. Crypto assets were taxed less as foreign currency in the nation. (Read More)

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Italy Embraces the Crypto Art Renaissance to Boom Its NFT Market

Over recent months, the trending talk of the town is about the arrival of Crypto Art Renaissance in Italy.  A

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Still bullish: 40% of survey respondents plan to buy crypto in 2023

Despite a challenging year for the crypto industry, nearly 40% of respondents indicated a plan to purchase cryptocurrencies like Bitcoin in 2023.

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Italy will tax cryptocurrency earnings 26%

Italy will restrict digital currencies in 2023. Cryptocurrency trading earnings above 2,000 euros ($2,062) will incur a 26% capital gains tax. As "foreign money," digital currencies have enjoyed reduced tax rates. Portugal wants to tax cryptocurrency capital gains at 28%. (Read More)

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Italy to Start Taxing Crypto Trading Gains From 2023 (Report)

The Italian government intends to impose a 26% tax rate to local investors who gain over $2,090 per year from crypto trading.

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Italy to impose 26% crypto gains tax from 2023

Italy is planning to tighten regulation around cryptocurrencies by taxing capital gains beginning in 2023.  According to the European country’s proposed budget for next year, all digital currency profits above £2,000 will be subject to a 26% tax levy.  The provisions also declared that Italian investors who declare their digital asset holding by 2023 will […]

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Italy Proposes a 26% Tax on Capital Gains from Digital Assets: 2023 Budget

Huge digital assets tax tag in Italy will only be payable if gains from trading total more than €2,000.

Continue reading Italy Proposes a 26% Tax on Capital Gains from Digital Assets: 2023 Budget at DailyCoin.com.

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