Lawmakers in Slovakia have approved new legislation, with a resounding 112-2 vote in favor, aimed at reducing taxes associated with the sale of crypto or digital assets. In addition to the aforementioned tax-cutting law, members of the National Council of the Slovak Republic, the country’s parliament, have further endorsed additional measures that impact cryptocurrency holders. The National Council of the Slovak Republic passed the amendment that will result in a reduction of personal income tax on profits derived from the sale of cryptocurrencies. This tax reduction specifically applies to individuals who have held the cryptocurrencies for a minimum period of one year. The recent vote marked the third reading of the bill in the National Council. According to reports, the Ministry of Finance in Slovakia has projected that the amendment, once implemented, will have a financial impact of approximately 30 million euros per year. Related Reading: Solana Faces Resistance Yet Traders May Find Buying Opportunities Here In a significant development, the Slovakian parliament recently passed another amendment to the constitution. This amendment specifically codifies the rig ..
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