The FTX crush continues to cause a ripple effect all over the world — from Singapore to the European Union.
Italy is planning to tighten regulations on digital currencies in 2023 by expanding its tax laws to include cryptocurrency trading. Included in its 2023 budget are plans to impose a 26% levy on profits larger than 2,000 euros made on cryptocurrency trading. Historically, digital currencies have had lower tax rates because they have been considered “foreign currency.
This is intended to incentivize Italians to declare their digital assets on their tax returns.A judge with the Seoul Southern District Court has reportedly set aside arrest warrants for Terra co-founder Shin Hyun-seong along with three Terra investors and four developers. Judge Hong Jin-Pyo said there was little risk of Shin or the Terra associates destroying evidence related to the case against the crypto firm.
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