On December 11, Italian politicians said on Tuesday that they will cut the increase in cryptocurrency capital gains tax. According to the 2025 budget, which will be approved by parliament at the end of December, the Ministry of Finance intends to increase the capital gains tax on cryptocurrencies such as bitcoin from 26% to 42%. The coalition said that this move will risk boosting the shadow economy. Political sources said that the government may even decide to keep the 26% tax rate unchanged.
The 2024 Bitcoin Conference will feature a host of politicians today, including Senator Cynthia Lummis and independent US presidential candidate Robert Kennedy Jr. In addition, there will be keynote speakers such as MicroStrategy Executive Chairperson Michael Saylor, ARK Invest CEO Cathie Wood, and cyber security expert Edward Snowden.
US politicians can accept cryptocurrency donations on the Base chain. According to the Supportcrypto website, supporters can choose from more than 240 cryptocurrencies, including bitcoin and ethereum, or make credit card payments through the platform. Jesse Pollak, head of the Base network, said in a statement that while there is a company behind the platform called Engage Raise, Coinbase Commerce powers its operations.
According to information shared by Insider Tracker, a service that tracks the transactions of high-profile corporate executives and politicians, Federal Reserve Chairperson Jerome Powell has a net worth of more than $112,000,000, and the average per capita income in his economy is $62,027.
On June 27th, it was reported that only 41 US politicians are "strongly opposed" to cryptocurrencies, and 310 "strongly support" cryptocurrencies. Theoretically, a two-thirds majority of the Republican Party in the House and Senate would be enough to pass any legislation supporting cryptocurrencies.
Samson Mow, CEO of Jan3, expressed skepticism about the growing support for digital assets among politicians. One of Samson Mow's greatest concerns is the failure of many politicians to distinguish between bitcoin and other cryptocurrencies. He emphasized that bitcoin is decentralized, permissionless, and censorship-resistant, and unlike many other digital currency projects, they may have different characteristics and risks.