In Germany, the parliamentary opposition faction “Alternative for Germany” (AfD) has initiated a resolution to recognize Bitcoin as a strategic asset for the country. AfD representatives emphasize the need for deregulation of Bitcoin, as well as a reduction in the tax burden to stimulate innovation and the development of the cryptocurrency market.
This is reported by Business • Media
Proposals for Changes in Bitcoin Regulation
In their resolution, the deputies highlight the fundamental differences between Bitcoin and other crypto assets. They believe that Bitcoin is decentralized, has a limited supply, and is not subject to manipulation. Given these characteristics, AfD advocates that Bitcoin should not fall under the European regulation MiCAR.
Furthermore, the party insists on maintaining the current holding period for crypto assets at 12 months, after which no capital gains tax is applied to sales. AfD representatives also demand that mining and operating Lightning Network nodes in the private sector not be considered corporate activities.
Recognition of Bitcoin in Currency Reserves and Government Position
If the resolution is approved, the German government is expected to make an official statement regarding the strategic role of Bitcoin as “the free money of the 21st century.” Additionally, the deputies propose considering the inclusion of Bitcoin in the country’s international currency reserves.
“The German government has yet to strategically recognize Bitcoin, for example, as a technology for energy integration or, during periods of significant monetary instability, as an asset held in currency reserves,” the statement reads.
AfD warns that ignoring the strategic role of Bitcoin could deprive Germany of competitive advantages in the global innovation market.
It is worth noting that a similar initiative to create a Bitcoin reserve was previously discussed in France; however, the European Central Bank currently maintains a strict stance regarding the integration of Bitcoin into reserves. Meanwhile, the German government has faced criticism for selling approximately 50,000 BTC from confiscated assets, which is estimated to have resulted in a loss of $1.6 billion in profit due to the increase in Bitcoin’s value just months after the sale.