Crypto regulatory scenario is gaining pace in different countries across the globe as the authorities become more aware after the FTX collapse. Recently, the Italian parliament’s fresh budget approval has taken crypto gains into consideration and has decided to impose a 26% tax on it. It is applicable to the ones making over 2,000 Euros via digital asset trading. Moreover, losses born through digital assets can be deduced from the profit and carried forward.
Increased Regulatory Concerns Since The FTX Collapse
Many agencies are trying to impose clear cut regulations on virtual currencies. The Financial Accounting Standard Board (FSAB) in the US is among such entities, The Wall Street Journal reported. Though it may not affect most of the traditional businesses in the market as only a few of them have association with crypto assets.
According to the Washington Post, less crypto gains have appeared on the paper this year. More than 5 million users traded digital currencies between 2014
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