Bitcoin stabilizes near $65,000
Cryptocurrency prices varied during today’s trading session, with Bitcoin stabilizing near $65,000, as markets monitored developments in the Middle East war and awaited US employment data.
US President Donald Trump said in an interview with Fox News that an agreement with Iran is imminent, noting that negotiations are proceeding well.
Investors are awaiting the US non-farm payrolls report for July, scheduled for release tomorrow, with expectations that the US economy will add 83,000 jobs, compared to the 57,000 added in June.
This comes after an online petition opposing the repeal of a one-year tax exemption for Bitcoin and other digital currencies reached the legal threshold of 30,000 signatures, obligating the parliamentary petitions committee to address investors’ demands in a public hearing.
The petition objects to plans by the German Finance Ministry to impose a flat tax on profits from the sale of cryptocurrencies in the future, regardless of the holding period, according to the German News Agency (dpa).
German Finance Minister Lars Klingbeil hopes this amendment will generate additional revenue estimated in the billions of euros. His party, the Social Democratic Party, argues that equalizing the tax treatment of Bitcoin and other cryptocurrencies with traditional stocks would be fairer.
In contrast, the petition signatories demand maintaining the current system, which allows individuals to realize profits from selling Bitcoin, Ethereum, or other digital assets tax-free if they hold them as private assets for more than one year.
Critics argue that repealing this holding period would harm long-term investors and weaken Germany’s position as an innovation hub. Opponents contend that the proposed changes would come at the expense of savers who wish to hold their digital currencies for extended periods.
The petition designers view this as a breach of the current tax system, under which Bitcoin is currently treated similarly to gold, foreign currencies, and works of art or collectibles, whose private sale profits are also tax-exempt after the statutory holding period has elapsed.
