Regulation· ★★★· bearish· October 21, 16:00

Germany's crypto holding-period repeal stalls in ministerial review

—65.3% of insiders and 80.1% of community respondents expect lower demand
—28.3% of insiders see more short-term trading as the main consequence
—30.9% of retail respondents cite fewer new crypto investments
—A quarter of the community expect a shift to offshore venues, DEXs or self-custody

Why it matters: Scrapping the tax break removes the main incentive for long-term holding and could push flows into ETPs and unregulated markets.