Germany publishes its first nationwide tax guide for crypto

What

Germany has issued its first instructions on the income tax requirements for crypto

Why 

The guidelines, issued by the nation’s finance ministry deal with the income tax treatment of mining, staking, lending, hard forks and airdrops

What next

Stake or lent cryptocurrencies are still tax-free if held for over one year

The story

Germany’s federal finance ministry has issued guidance on income tax treatment for crypto as part of the first nationwide instructions on the topic. The guidance will deal primarily with mining, staking, lending, hard forks and airdrops. 

Individuals can also sell Bitcoin and Ether tax-free after one year, according to a statement made by Parliamentary State Secretary Katja Hessel.

In addition, according to the rules, income tax doesn’t apply when redeeming utility tokens, the crypto assets that give the holder rights such as access to a network or to receive a certain product. 

To learn more about Bitcoin and Ethereum, visit our learning resource here.