One of the most important news of the day was the Bitcoin statement made by the Italian Deputy Finance Minister. Deputy Minister Maurizio Leo stated that they want to increase the earnings tax on Bitcoin and other cryptocurrencies from 26% to 42%. At the press conference, Leo’s reasoning for the increasing popularity of cryptocurrencies also attracted attention.

Harsh reaction from Tether CEO: “Breathe less”

While the Bitcoin and cryptocurrency communities living in Italy especially rebelled against this statement, one of those who reacted was Paolo Ardoino, who is Italian. Tether CEO Ardoino reacted strongly to the minister’s statements and said:

“The translation of this is, ‘We want to tax more from successful businesses. How come Italians use Bitcoin as a hedge against inflation! Really excellent logic… Please breathe less…”

As it is known, the Tether company also makes Bitcoin purchases with 15 per cent of its quarterly earnings.

Giorgia Meloni, the prime minister of Italy, said a while ago that they had no intention of imposing any additional tax burden on Italian citizens, but the latest press conference shows the opposite.