Primary source: https://www.bundesfinanzministerium.de/Content/DE/Downloads/BMF_Schreiben/Steuerarten/Einkommensteuer/2022-05-09-einzelfragen-zur-ertragsteuerre

Primary source: https://www.bundesfinanzministerium.de/Content/DE/Downloads/BMF_Schreiben/Steuerarten/Einkommensteuer/2022-05-09-einzelfragen-zur-ertragsteuerrechtlichen-behandlung-von-virtuellen-waehrungen-und-von-sonstigen-token.pdf?__blob=publicationFile&v=1 https://www.bundesfinanzministerium.de/Content/DE/Downloads/... There are several caveats with this. First of all, this comes from the treasury (executive branch). There is considerable room for interpretation, and courts may apply existing laws differently than the treasury intends. Furthermore, according to the letter, the tax-free period only applies to currency tokens (which are defined as tokens to be used for payment purposes). The tokens that routinely make the news do not seem to be in that category. Other tokens may be taxed differently. Here's an example: if someone algorithmically pegs the value of a token to some stock index, it is very likely that you still have to pay the usual 25% capital gains tax once you sell it. Undoubtedly someone will set up a coin like that and take fees in anticipation of tax savings, but this will work out only for some time, until the tax office catches up—or not at all, if the token is never classified as a payment/currency token in the first place.