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DOMAINS TOKEN-G

Ronald Maguire

12 May 2022 150 Read Crypto

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Germany Simplifies the Law on Taxation of Crypto Income

The German Federal Ministry of Finance has released an announcement outlining its income taxation scheme related to blockchain and cryptocurrencies. Germans do not have to pay taxes on cryptocurrencies they hold for 1 year. This clause also applies to cryptocurrencies, crypto loans and crypto staking. The country's economic regulators had been working on this for several months.

BMF Creates New Laws

The new laws created by BMF also cover airdrop, lending, staking, hard fork and DeFi features. While in the past it was necessary for cryptos to be held for 10 years to be tax-free on gains from crypto, this is no longer required.

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