German SPD is advocating for a 30% tax on all crypto gains

According to the published excerpt from coalition negotiations between Germany’s Social Democratic Party (SPD), the CDU, and the CSU, the SPD is advocating for a flat 30% tax on all crypto gains - regardless of how long the assets were held.

Currently, Germany has a relatively crypto-friendly tax policy: if you hold your crypto for more than a year, any profit from its sale is completely tax-free. Profits under €1,000 are also exempt.

Now, imagine the faces of those German residents who trusted the stability of these rules and went out of their way to declare their crypto - just so they could easily prove they’d held it for over a year.

It’s a reminder that governments can change the rules of the financial system they control - right in the middle of the game. In this particular case, it’s unlikely the proposal will go through: CDU and CSU came out stronger than the SPD in the last elections. Still, the very fact that such discussions are happening is worth paying attention to.

That’s why I prefer to steer clear of fiat systems altogether and stick to crypto-to-crypto swaps. If you’re the same, check out rabbit.io - over 9,000 cryptocurrencies available, top rates, no registration. Just pick your pair and swap. Simple as that.