Until now, the tax treatment of cryptocurrencies, particularly with regard to sales, was governed solely by the tax authorities' view, which classified such transactions as private sale transactions. Gains from disposals were considered taxable only if purchase and sale occurred within a one-year period, provided that the purchase and sale were not carried out as a sustained activity (i.e., commercially).
The BFH has now confirmed this view in new case law from 2023. In addition, the court considers cryptocurrencies to be an economic asset that is capable of being recognised on the balance sheet and valued.
Note
The Growth Opportunities Act (Wachstumschancengesetz) provides for raising the threshold for tax-free gains from private sale transactions from the current limit of less than EUR 600 per year to EUR 1,000. For couples filing jointly, the exemption threshold doubles.