The ongoing rise in cryptocurrency markets is motivated by the expectation that global regulations will provide clarity to the sector. The surge in Bitcoin 
$89,713 prices following Trump’s election victory reflects this sentiment. If cryptocurrencies can establish clear rules in the United States, it will pave the way for shaping global regulations and guiding other countries as well. So far, the most definitive steps have been taken in taxation.
Cryptocurrency Tax Rates
Although many countries still lack clear laws regarding cryptocurrencies, there is one area that is becoming clearer: taxation. Many nations are working to clarify the taxation of cryptocurrencies. However, while doing this, governments are also considering the significant potential loss of votes seen in the U.S. and South Korean elections.
In the context where U.S. elections once again highlight the importance of cryptocurrencies, discussions are underway in Italy to limit the cryptocurrency tax to 28% instead of 42%. Italy’s Deputy Finance Minister, Maurizio Leo, previously stated that they would raise the tax from 26% to 42%.
Despite aiming for 42% in Italy’s 2025 budget to increase revenue, the likely increase of only 2% in tax rates is probably linked to the influence of cryptocurrency investors on politics.
