German Bundestag Rejects Proposal to Increase Cryptocurrency Tax

Odaily Planet Daily News: The Finance Committee of the German Bundestag has rejected a cryptocurrency tax reform proposal put forward by the Green Party.

The proposal originally aimed to abolish the policy that "selling cryptocurrencies held for more than one year is exempt from capital gains tax." Under current German law, individuals holding crypto assets for over a year can sell them without paying capital gains tax.

The Green Party argued that crypto assets should be subject to the same tax rules as other investment assets. However, opponents pointed out that the proposal could lead to a higher tax burden for crypto investors compared to ordinary stock investors. The Green Party estimated that eliminating the relevant tax exemption could generate approximately €11.4 billion in additional tax revenue annually for Germany. (Cryptopolitan)