Philipp on Nostr: Germany to change tax laws on Bitcoin After the recent snap elections in February, ...

Germany to change tax laws on Bitcoin

After the recent snap elections in February, the ongoing coalition talks between the Conservatives and the Social Democrats have revealed that the Social Democrats want to change Germany's tax laws on Bitcoin.

Gains from the sale of bitcoin (and other crypto assets) would be taxed as capital income. What sounds harmless to normies is actually the abolition of the current one-year holding period (realized gains after a one-year holding period are tax-free).

This would have far-reaching negative consequences for citizens, companies and Germany as a location for bitcoin innovation.

Worst of all, and showing utter incompetence, as with many recent proposals, the new regulation could bring in less tax revenue, not more.