In recent crypto news, the Italian government is contemplating increasing the capital gains tax on Bitcoin from 26% to an eye-watering 42% in 2025. Deputy Economy Minister Maurizio Leo made this announcement during a news conference on October 16, emphasizing the need for this change in Italy's new budget bill. This bill also proposes removing the minimum revenue requirement for the Digital Services Tax, which currently affects large digital service providers. Meanwhile, the token sale for the World Liberty Financial (WLFI) crypto platform, backed by the Trump family, struggled significantly, raising only $10 million of its $300 million target on its first day. The platform's initial offering was marred by website crashes amid high traffic, leading to only a fraction of the total tokens sold. Donald Trump promoted the token sale, calling for the acceptance of crypto as the future of the digital economy. Additionally, Coinbase and Glassnode highlighted a marked maturity in the crypto market this year, signaling significant industry developments.

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