German crypto tax policy one of the best in the world

Coincub’s annual tax ranking report shows that Germany offers its residents the best tax policies in the world, while Belgium is one of the worst places to own crypto due to its high taxation. The Coincub annual report ranks countries using a scoring system obtained. A few countries have adopted a low tax rate to retain their domestic population. Germany, Italy, Switzerland, Singapore, and Slovenia made Coincub’s list of the top five countries with friendly crypto tax policies. Germany topped the list with more-friendly tax policies for residents. Residents are not required to pay capital gains tax on assets held for over a year. As a result, more residents incline to save their investments in traditional savings accounts instead of spending outrightly. Gemini’s friendly tax policy has helped the country remain on the frontline of crypto adoption.