What are the tax implications for German cryptocurrency holders?

1 answers

• Dec 18, 2021 · 3 years ago
  BYDFi does not provide tax advice, but as a general rule, German cryptocurrency holders should be aware of the tax implications of their investments. Cryptocurrencies are treated as private sales in Germany and are subject to capital gains tax. The tax rate depends on the holding period of the cryptocurrency. If the cryptocurrency is held for less than one year, the gains are taxed as regular income. If it is held for more than one year, the gains are subject to a reduced tax rate. It is important for German cryptocurrency holders to consult with a tax professional or seek guidance from the tax authorities to ensure compliance with the tax regulations.
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