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ARTICLE · 24 MAY 2022

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Final Version Of German Circular On Taxation Of Crypto Assets Published

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On 11 May 2022, the German Federal Ministry of Finance (BMF) published its long-awaited circular on "the German income tax treatment of cryptocurrencies and other token".

GermanyTechnology
David Hötzel
David Hötzel
Marcus Niermann
Marcus Niermann
Marco Ottenwaelder
Marco Ottenwaelder
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On 11 May 2022, the German Federal Ministry of Finance (BMF) published its long-awaited circular on “the German income tax treatment of cryptocurrencies and other token”. These are the key facts for German investors:

Executive Summary

Capital gains from crypto assets are tax-free for private investors if they are realized after a one-year holding period and do not exceed the threshold of a "commercial trade". A precise definition of this threshold is still missing, which leaves uncertainties, for example in the case of indirect investments via funds.

An extension of the holding period up to ten years in cases of crypto-staking or lending, which was initially announced by the BMF, is expressly not applicable.

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