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Germany is becoming more crypto-friendly

Germany has taken another step toward becoming a cryptocurrency-friendly nation. In a roundtable discussion on crypto taxes, the German Parliament decided not to increase the time period for tax-free selling of crypto earnings from staking and lending to ten years. Thus, after a year of staking and lending, Germans may finally be able to sell their crypto assets tax-free.

The German Federal Ministry of Finance has also announced the withdrawal of a proposed rule requiring a minimum 10-year timeframe for the tax-free sale of crypto gains through staking and lending. A new draft bill that is crypto-friendly will be in effect shortly.

On April 29, German MP Frank Schäffler stated in a tweet that the German Parliament has decided to lift a 10-year holding time restriction for tax-free crypto staking and lending. The decision to retain the holding period at one year has been approved by the members of parliament. It is, in fact, the standard holding time for tax-free selling of crypto earnings from staking and lending.

Staking and lending allow users to deposit their cryptocurrencies into networks or platforms for a period of time in order to gain incentives, interest, and additional crypto.

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Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.


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