A Boon for Bitcoin? Italian Government Proposes Tax on Savings in Held in Bank Safes
The Deputy Prime Minister of Italy has proposed a new tax on cash and other valuables held by citizens at banks. If actually imposed, the measure could drive people towards Bitcoin as a way to keep their savings safe from cash-strapped government ministers.
The proposal comes as rising geopolitical tensions are impacting other investment markets, making value held in cash and other valuables a more attractive option for many.
Would the Italian Government Coming After Private Savings be a Catalyst for Bitcoin Adoption?
According to a report published earlier today by Reuters, Italy’s government may consider taxing its citizens’ private savings held in safety deposit boxes at banks.
The report states that the nation’s Deputy Prime Minister, Matteo Salvini, made the proposal on a late night TV programme yesterday. It was picked up by the domestic press this morning.