Italy’s Economic Problems a Boon for Bitcoin (BTC)

Reports by Italian newspapers say that the Italian government has proposed a tax on cash and other valuables hidden in bank vaults. Matteo Salvini, the Italian Deputy Prime Minister (DPM), was quoted while on a late-night TV show saying that his country’s banks held billions of Euros worth of assets in safety deposit boxes.

DPM Salvini additionally suggested that these “substantially hidden” assets were being kept away from income from tax authorities. According to the reports by the dailies, Italians who were forthright on the holdings in their safety deposit boxes would be taxed at “low rates” of 15 percent.

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