Legislators in Slovakia have approved a plan to lower the country’s income tax on crypto transactions.
The Slovakian parliament has approved a bill to reduce cryptocurrency sales taxes. The new income tax law in the nation aims to ease the usage of virtual currencies by lowering the tax burden associated with their sale. If the proposed legislation is enacted, the tax rate on crypto earnings will drop to 7%.
Since the beginning of the year, the cryptocurrency market has done very well, with Bitcoin and other top cryptocurrencies increasing by more than 40%. The price of a single Bitcoin has dropped from its previous high of $31,000 to its current level of $30,617.
If the new law passes in Slovakia, more people will start using cryptocurrencies since more people will start investing in them. Similar legislation may be enacted in other European nations depending on the amount of success.
The price of several cryptocurrencies may benefit from a rise in Bitcoin if and when it occurs in the short to medium term. If the cryptocurrency market has a rise in the following weeks and months, AltSignals may be one of the cryptocurrencies that see price appreciation.
AltSignals, which focuses on trading, stands to gain from increased bitcoin market capitalization. A rise in demand for AltSignals’ native token, ASI, might result from an influx of new users into the cryptocurrency market.
There may not be a better time to get AltSignals than before the presale period ends. It’s a cryptocurrency aimed at a specific market that might see widespread usage among crypto and FX traders.
The development team has secured 96% of the funding necessary to develop its goods and services. AltSignals has collected $1,038,697.905 from donors, surpassing their goal of $1,080,000.
The AltSignals ecosystem’s native token, ASI, may be purchased for 0.015 USDT at the time of writing. However, historical data suggests that ASI may see a price increase if the company releases its products and the token lists on cryptocurrency exchanges.
As detailed in their whitepaper, the AltSignals team plans to utilise the cash to create ActualizeAI, a solution that might let more individuals into the bitcoin trading industry.
To simplify trading cryptocurrencies for its customers, AltSignals described ActualizeAI as a completely automated system that would be available around the clock.
Also Read: The over 50% increase in Coinbase stock price from its bottom may be “short lived”
