Germany is pushing a plan to abolish the tax exemption applied when investors sell cryptocurrencies after holding them for more than 1 year. The federal government aims to secure at least 1 billion euros a year in additional revenue from 2027. The proposal is included in the Finance Ministry’s 2027 federal budget draft and fiscal plan through 2030, which the cabinet has already approved in draft form. The package also includes other tax increases and spending reductions, but the reform still requires parliamentary approval.

The U.S. stablecoin market may tilt further toward large issuers as a July 18 deadline approaches for finalising detailed rules under the GENIUS Act. The regime would require high-liquidity reserves, monthly verification, licensing and anti-money laundering systems. Industry participants say the rules could raise barriers for smaller issuers because many compliance costs are largely fixed. The law also bans paying interest simply for holding tokens, shifting issuer profitability toward reserve returns and distribution reach.