Autor Cointelegraph by Christina Comben

Germany is preparing to change how it taxes Bitcoin and other cryptocurrencies from 2027, potentially ending one of Europe’s most generous long-term holding exemptions as it seeks to raise additional revenue and tighten tax compliance. Finance Minister Lars Klingbeil said at an April 29 press conference on the 2027 federal budget that the government wants to “tax cryptocurrencies differently,” and key points include an extra 2 billion euros (about $2.3 billion) in revenue from crypto taxation and measures against financial and tax crime. Under current rules, private crypto gains in Germany are taxable if the assets are sold within one year of acquisition, but are generally tax-free after that period. The exemption has made Germany one of the more favorable European jurisdictions for long-term Bitcoin and crypto holders.The finance ministry’s 2022 and 2025 guidance confirmed that this one-year “Haltefrist” also applies to coins used in staking and lending, after an earlier plan for 10 years was dropped. Tax advisory firms such as Blockpit describe the rule as a key advantage for German retail investors, especially long-term holders. Germany plans to “tax cryptocurrencies differently.” Source: BundesfinanzministeriumKlingbeil did not explicitly reference the holding period in his April remarks. However, industry groups, including the German Bitcoin Association, say the exemption is the most likely target if the government aims to generate significant revenue from crypto taxation.Related: Germany‘s central bank president touts stablecoin and CBDC benefits for EUBitcoin and crypto tax accountant Robin Thatcher told Cointelegraph that removing the 12-month tax-free disposal would “significantly weaken Germany’s pull as a crypto hub,” and that other jurisdictions “should be copying this policy rather than Germany changing it.”Cointelegraph reached out to Germany’s Federal Ministry of Finance for comment, but had not received a response by publication.EU transparency push and policy alignment The tax debate also comes as Germany prepares for broader crypto reporting under the EU’s DAC8 regime.Since January, Germany’s implementation of the EU’s DAC8 regime via the Crypto Asset Tax Transparency Act requires crypto asset service providers (CASPs) to report detailed customer transaction data to the Federal Central Tax Office and other EU authorities, dramatically reducing the scope for undeclared crypto trading.Austria, where Vienna-based crypto broker Bitpanda is headquartered, scrapped its own tax-free holding period for crypto in 2022 and moved to taxing gains as capital income regardless of how long coins are held. Abolishing Austria’s holding period “extremely stupid idea.” Source: Eric DemuthBitpanda co-founder Eric Demuth has since described Austria’s move as “an extremely stupid decision,” arguing in a March 12 X post that it created more bureaucracy and complexity for users and platforms while bringing “hardly any additional benefit” for the state and warning that Germany should not repeat the same mistake.Related: Bitget taps ex-Bitpanda legal chief Oliver Stauber to build Vienna MiCA hubThatcher said the change would put Germany “broadly in line with Austria,” with a 27.5% flat tax, and “not far” from the United Kingdom’s 24% top capital gains tax, causing Germany’s structural competitive edge to “disappear overnight.”Critics see tax push eroding Germany’s crypto appealA spokesperson from Bitpanda told Cointelegraph this is a “critical juncture for Germany’s digital economy.” Any reform should not be “a mere revenue exercise,” they said, especially since the gains to the state would be “negligible” at approximately 0.02% of the federal budget. They added that any new framework “must prioritize market competitiveness and prevent a migration of activity toward unregulated, offshore venues.”Thatcher said “the packaging matters,” and that the framing shows the motivation is fiscal rather than principled, “sitting inside a 98 billion euro deficit-reduction budget,” alongside cuts to health, pensions and levies on alcohol and tobacco. “Investors and entrepreneurs notice when they are bundled in with so-called sin taxes,” he said, “it shows how the state views the asset class.”Erald Ghoos, chief executive officer of OKX Europe, told Cointelegraph the plan would hurt Germany’s adoption and competitiveness “in one move,” pushing people toward offshore platforms “without [Markets in Crypto Assets] MiCA obligations.” He cited Austria as a failed example that created “compliance headaches for minimal revenue gain,” adding that MiCA has “done real work harmonizing regulation,” but that “Europe keeps losing ground” when it comes to taxation.Magazine: Bitcoin will not hit $1M by 2030, says veteran trader Peter BrandtCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

South Korean crypto exchange Bithumb is expanding its overseas push through a new partnership in Vietnam as the country moves toward licensing its first domestic digital asset trading platforms.Bithumb said it signed a memorandum of understanding (MoU) with SSI Digital (SSID), a subsidiary of Vietnam’s largest securities company, SSI Securities, to cooperate on establishing and operating a virtual asset exchange in the country. The agreement, signed in Hanoi in March but announced Thursday, also leaves the door open for Bithumb to make a strategic equity investment in an SSID-designated entity, subject to Vietnam’s regulatory approvals.The move positions Bithumb for Vietnam’s pilot program for licensed domestic digital asset trading platforms, creating a potential entry point into one of Southeast Asia’s fastest-growing crypto markets.Vietnam’s tight crypto pilot raceVietnam’s five-year crypto asset pilot, unveiled in September 2025, requires exchange operators to be Vietnamese entities with at least 10 trillion dong ($380 million), in charter capital and caps foreign ownership at 49%. Authorities are also drafting rules that could restrict trading on unlicensed overseas platforms.Bithumb and Vietnam’s SSID Collaborate. Source: BithumbCompetition for licenses is already intensifying. A Finance Ministry document cited by Reuters in March said five firms, including affiliates of private banks Techcombank, VPBank and LPBank, along with broker VIX Securities and conglomerate Sun Group, have already cleared an initial qualification round.Related: Bank of Korea floats crypto ‘circuit breakers’ after Bithumb blunderOne of the most advanced bids is VPBank-linked CAEX, which secured backing from OKX Ventures and HashKey Capital in April to help meet Vietnam’s minimum charter capital threshold for the pilot. Bithumb’s Vietnamese partner, SSI Securities, is one of the country’s largest brokers and set up SSI Digital Technology JSC to spearhead its push into digital assets in 2022. Vietnam was ranked fourth in global crypto adoption in 2025 by blockchain forensics firm Chainalysis. According to Bithumb’s press statement, the company and SSID plan to collaborate across exchange technology, wallet and custody systems, security and risk management, regulatory support and institutional business development. No timeline has been given for a formal license application or final investment decision, and Vietnam has not yet approved any fully licensed crypto exchange under the pilot. Cointelegraph reached out to Bithumb for comment but had not received a response by publication.Korea headwinds raise stakesThe expansion plan comes as Bithumb faces heightened scrutiny in its home country following a high-profile payout error and a delayed listing timeline. The exchange has pushed back its initial public offering (IPO) to sometime after 2028, with management saying it needs to strengthen accounting policies and internal controls after earlier regulatory sanctions.In February, Bithumb mistakenly credited customers with 620,000 Bitcoin instead of 620,000 won during a promotional event, briefly creating more than $40 billion in notional balances and triggering sharp price swings on the platform. The firm says it recovered 99.7% of the funds and is now pursuing legal action to reclaim the remaining 7 BTC.Magazine: Bitcoin will not hit $1M by 2030, says veteran trader Peter BrandtCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

CME Group plans to launch Bitcoin Volatility futures on June 1, pending regulatory review, giving investors a compliant way to trade expected Bitcoin volatility rather than price direction, according to a company release published Tuesday. The Chicago-based derivatives marketplace said the contracts will settle to the CME CF Bitcoin Volatility Index, a 30-day measure of expected Bitcoin volatility derived from CME options markets. CME describes the new contracts as Commodity Futures Trading Commission (CFTC)-regulated futures aimed specifically at Bitcoin volatility, extending the existing US regulatory framework that already covers CME’s Bitcoin and Ether derivatives.Giovanni Vicioso, CME Group’s global head of cryptocurrency products, said in the release that market participants are seeking regulated products that offer exposure to market moves, and that the new futures would let traders invest in or hedge against future Bitcoin volatility. The launch would give institutions a regulated way to trade Bitcoin volatility in the US directly through CME’s clearing framework, rather than building similar exposure through combinations of Bitcoin options and futures or using offshore venues. Related: CME CEO Duffy says exchange is exploring issuing its own tokenIn the same release, Morgan Stanley managing director and head of derivatives sales David Schlageter said the contracts should help market participants manage portfolio risk by trading volatility itself. CME Group to Launch Bitcoin Volatility Futures Contracts. Source: PR Newswire.CME described the contracts as the “first-of-their-kind regulated futures contracts,” distinguishing them from existing crypto-native volatility products offered outside the US-regulated futures framework.Cointelegraph reached out to CME for additional comment, but had not received a response by publication.CME’s product keeps Bitcoin volatility trading onshore Similar products exist elsewhere. Deribit launched BTC DVOL futures in March 2023, tied to its implied-volatility index, while BitMEX introduced its BVOL 30-day historical volatility futures back in January 2015.CME first introduced cash-settled Bitcoin futures in December 2017 and has since expanded its regulated crypto lineup to include Bitcoin options, Micro Bitcoin futures and options, Ether futures and options and other cryptocurrency contracts.The group is preparing to move its cryptocurrency futures and options to 24/7 trading from May 29, subject to regulatory review, further aligning its market structure with the always-on nature of digital assets. That push comes as crypto derivatives continue to dominate trading activity more broadly, with a CoinGlass report estimating 2025 crypto derivatives volume at about $85.7 trillion, and Swiss bank Amina Group finding that derivatives account for roughly three-quarters of all crypto trading.Magazine: Bitcoin will not hit $1M by 2030, says veteran trader Peter BrandtCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

OKX Card users in Europe spent mostly on groceries, restaurants and other routine purchases in the product’s first month, according to transaction data shared Wednesday.In the first month of use across the European Economic Area (EEA), grocery stores and supermarkets accounted for 26% of all OKX Card transactions, while restaurants and fast food together made up 18%, ahead of travel and online marketplaces, according to the data. The analysis covers settled purchase transactions made with the OKX Card in the EEA between Jan. 28 and Feb. 26, across the top 20 merchant types by transaction count, volume or unique users, the company said. A spokesperson from OKX told Cointelegraph the dataset spans all EEA markets where the card is live, and that the snapshot captures the “majority of daily spending behaviors and any high-value outliers,” including categories such as utilities, while excluding peer-to-peer transfers.OKX’s numbers show distinct national patterns behind the headline averages. In France, for example, bakeries represent 5% of OKX Card transactions compared with 2% across the EEA, highlighting the country’s boulangerie and café culture. Spending habits by country. Source: OKXIn Germany, 30% of transactions occurred on online marketplaces, more than double the EEA average of 13%, while the Netherlands recorded 37% of transactions in supermarkets, the highest grocery share in the dataset. Related: OKX launches EU stablecoin payment card via regulated issuer MonavatePoland stands out for small-ticket, in-person usage, with 16% of OKX Card payments at convenience stores and around 9% at fuel stations, both above the EEA averages.The spokesperson said that swapping fiat for crypto in everyday payments is a newer behavior, arguing that the data challenges the stereotype of crypto cards being used mainly for luxury items, and instead points to groceries and coffees bought by “everyday people.” The company said country-level differences largely reflect existing cultural habits, but argued they show stablecoin-funded card payments starting to displace traditional cards in customers’ day-to-day routines, not just in occasional big-ticket purchases.Part of broader trend in EuropeBroader market data suggests OKX is not alone in its findings, with other crypto card providers in Europe reporting similar patterns of low-value, everyday transactions.A 2025 Cex.io report found that roughly 45% of crypto card transactions in Europe were for amounts under 10 euros ($11.75) and that around 40% of such card spend happened online, nearly double the euro-area average share of online card payments of about 21%.Separate Brighty data reported by Cointelegraph in April showed that Spain accounted for about 36% of retail transactions and 25% of total volume in Circle’s euro stablecoin EURC between 2025 and the first quarter of 2026, with an average payment size of around 49 euros ($58), indicating stablecoins are already being used there for everyday purchases and peer-to-peer transfers.Magazine: How to fix suspected insider trading on Polymarket and KalshiCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Binance will change how it calculates benchmark prices for commodity-based perpetual futures during off-hours, a move that could affect margin and liquidation levels during weekends, holidays and maintenance periods, according to an exchange notice published Tuesday. The update will take effect on Friday at 9:00 pm UTC.The exchange will replace its current fixed pricing method with an Orderbook EWMA model for commodity-based traditional finance (TradFi) perpetual contracts. EWMA, or exponential weighted moving average, uses orderbook data that is smoothed over time rather than relying on a fixed reference price during periods of lower activity. Binance said the change will apply during daily maintenance windows as well as weekends and holidays, when trading activity is typically reduced.A Binance spokesperson told Cointelegraph the fixed mode was designed for lower-liquidity periods, but stronger volumes and deeper orderbooks have made a shift toward more flexible price discovery a “natural progression,” reflecting the growth of its TradFi perpetuals business.The change applies to commodity-based TradFi perpetuals including gold, silver, platinum, palladium, copper, crude oil, Brent crude and natural gas contracts. It will also apply to future commodity-based TradFi perpetuals listed on Binance Futures.Related: Binance revamps Launchpool, streamlines the BNB experienceEWMA model replaces fixed pricingIt will also extend to any similar commodity-based TradFi perpetual contracts listed in the future. The index price generated under this methodology is used to calculate margin and liquidation levels, meaning traders may see changes in how positions are marked and how liquidations are triggered during off-hours compared with the previous fixed-mode system.The spokesperson said the exchange is not changing weekend margin requirements, but liquidation behavior outside regular hours will become more aligned with crypto perpetuals, with pricing more directly tied to exchange liquidity. The EWMA model also smooths transitions between off-hours and regular trading to maintain price continuity.Update on price index calculation mode of commodity-based TradFi perps. Source: BinanceIndustry pricing models Other crypto derivatives venues use index pricing methodologies that incorporate multiple market inputs and orderbook-weighted components during periods of low liquidity or heightened volatility to reduce liquidation distortions, including Bybit’s index price calculation framework. Bybit’s model aggregates prices from multiple external spot exchanges and applies weighting mechanisms to help smooth short-term dislocations.The Binance spokesperson said the change applies only to commodity-based TradFi perpetual contracts, where underlying markets close outside regular hours. Crypto perpetuals trade continuously, and the existing framework remains appropriate. Equity-based TradFi perpetual contracts will continue to use the current fixed pricing method for now.Asia Express: North Korea denies crypto hacks, Upbit’s bank tests RippleCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.