German Bundestag rejects proposal to increase cryptocurrency taxes

Odaily reports that 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 of "exempting capital gains tax on the sale of cryptocurrencies held for more than one year." Under current German law, individuals who sell crypto assets held for over a year are exempt from capital gains tax.

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