crypto future in danger: SPD plans to abolish tax exemption for Bitcoin-AfD speaks of death blow for the industry

<p> <strong> crypto future in danger: SPD plans to abolish tax exemption for Bitcoin-AfD speaks of death blow for the industry </strong> </p>

SPD plans to abolish the one-year period for crypto tax exemption

In the current coalition negotiations between the SPD and the CDU, the one -year period for the tax exemption of cryptocurrencies is on the brink. So far, investors who kept Bitcoin, Ether and other digital currencies for at least a year have been able to realize their profits tax -free. However, the SPD plans to abolish this regulation and thus extend the taxation to private capital income.

tax policy and its effects on the crypto community

According to a protocol from the coalition negotiations, the SPD intends to increase the compensation tax rate to private capital income to 30 percent. In addition, income from cryptocurrencies should be taxed in the future like conventional capital income. However, such measures were not announced in the election program of the SPD, which triggers concern for many from the crypto scene.

opposition to the SPD plans

The SPD's plans not only encounter resistance in the crypto community, but also in the political opposition. The AfD criticizes the projects as a "death blow for Bitcoin" and warns of a serious intervention in the financial freedom of the citizens. Member of the Bundestag Dirk Brandes expresses concerns that the SPD endangers trust in Germany as a crypto location and threatens investments and jobs in the industry. Brandes also calls for the maintenance of the one -year period as well as the right to mines Bitcoin and manage digital assets independently.

future of the crypto location Germany

If the SPD implements its plans, any transaction with cryptocurrencies would be taxable. This could continue to throw back Germany in global competition for crypto investments, while countries such as Portugal, Switzerland and Great Britain score with more liberal regulations. The possibly upcoming digital euro, which will be introduced in October, could further increase the pressure on crypto investors and make cryptocurrencies as a means of payment in Germany.

In addition, greater taxation could lead to short-term investment behavior, which in turn increases volatility on the market and could weaken the Hodl idea, which is central to many crypto investors.

The way forward: coalition negotiations and political compromises

It depends on the ongoing coalition negotiations whether the SPD can actually enforce its tax plans. The first rounds have already been completed, and now the decisive "round of 19" is pending, in which the leading heads of the parties involved will negotiate political compromises. In view of the position of the CDU, the likelihood that the SPD can enforce its demands against concessions in other areas.

The coming weeks will be crucial to clarify whether and how the tax situation for cryptocurrencies in Germany changes. The discussion about the future of crypto taxation therefore remains exciting and could have far-reaching effects on the crypto location of Germany.