Circle’s Hansen Criticizes Proposed German Crypto Tax Rule

Circle executive Patrick Hansen has criticized a proposed change to Germany’s cryptocurrency tax rules, highlighting its treatment of investors who cannot document their purchases.

According to Hansen, the proposal would apply a substitute tax assessment when users fail to provide credible purchase records. In those cases, he said, taxes would amount to half of the proceeds from selling the assets.

The distinction is significant: the charge Hansen described would be based on the total sale proceeds, rather than the profit. The source report presents the measure as a proposal, not an enacted rule.