The German Bundestag rejects the proposal to increase cryptocurrency taxes
According to Odaily, the Finance Committee of the German Bundestag has rejected the proposed cryptocurrency tax reform put forward by the Green Party.
The proposal originally planned to abolish the policy allowing capital gains tax exemption 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 regular stock investors. The Green Party estimated that abolishing the relevant tax exemption could increase Germany's annual tax revenue by about 11.4 billion euros. (Cryptopolitan)
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