The German government plans to abolish its tax-free treatment of investors who hold their crypto for more than a year, local media has revealed.
A report by leading outlet Der Spiegel claimed that the government is exploring a “modified taxation on cryptocurrencies” as part of a wider effort to boost revenue.
According to the report, the changes will include abolishing the tax exemption for investors who hold their crypto for more than a year.
The report revealed that Chancellor Friedrich Merz and Finance Minister Lars Klingbeil have finalized the plan, although the proposal has yet to be made public.
They expect it to be passed by the Federal Cabinet this week and to take effect soon after.
Der Spiegel adds that the taxation reforms are not specifically targeting crypto and are aimed at covering a budget shortfall, expected to hit €98 billion this year.
Source: X.com
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