The proposed legislation would treat crypto gains as capital income, similar to dividends and interest. This includes income from staking and lending. A saver's allowance of €1,000 would be applicable, and losses could be offset against other capital gains, including those from shares.
Certain assets would remain outside this tax regime, specifically NFTs, security tokens, some stablecoins, and some real-world-asset tokens. The draft bill argues that crypto assets have evolved into a form of private capital investment, moving away from their previous status as general economic goods like artwork or classic cars.
Automatic tax withholding by banks and platforms is scheduled to begin in 2028, providing providers with a year to implement the necessary systems. When assets move between platforms, providers may use purchase prices and dates supplied by customers; otherwise, the flat rate will be applied.
The German government expects modest revenue from these changes. Estimated tax collections are €160 million in 2028, increasing to €350 million annually by 2031. The draft is currently in early coordination within the federal government.