Strong reaction from Tether CEO to Italy's Bitcoin step: Out of the fury

The Italian government's idea of raising the capital gains tax in Bitcoin from 26% to 42% almost infuriated the Italian CEO of the Tether company, Paolo Ardoino. Ardoino said, "Of course, Italians have no right to fight against inflation! Please breathe less," he said.

One of the most important news of the day was the Bitcoin statement made by the Italian Deputy Minister of Finance. Deputy Minister Maurizio Leo stated that they want to increase the earnings tax on Bitcoin and other cryptocurrencies from 26% to 42%. The fact that Leo caused cryptocurrencies to become increasingly popular at the press conference also drew 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 the Italian Paolo Ardoino. Tether CEO Ardoino reacted strongly to the minister's statements and said:

“The translation of this is 'We want to collect more tax from successful jobs'. How come Italians use Bitcoin as an anti-inflation tool! It's a really excellent logic... Please breathe less...”

As it is known, the Tether company also buys Bitcoin with 15% of the profits it earns every quarter.

Italian Prime Minister Giorgia Meloni also stated in his statement a while ago that he had no thoughts on bringing any additional tax burden on Italian citizens, but the latest press conference shows the opposite of this situation.