Germany eases staking and lending laws
The Federal Ministry of Finance in Germany has announced the removal of the draft bill that required a minimum 10-year period for tax-free selling of crypto gains from staking and lending. As such, Germans can now sell their crypto assets tax-free after 1 year of staking and lending. In fact, this is the usual holding period for tax-free selling of crypto gains.
Staking and lending allow users to lock in their cryptocurrencies for some time in networks or platforms in order to receive rewards, interest, and new crypto. Previously, users were required to hold their cryptocurrencies for 10 years after staking and lending, so that they could be sold tax-free.
According to the Coincub survey, Germany has overtaken Singapore as the most crypto-friendly country in the world. Crypto adoption among Germans has more than doubled in just a year.
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