Coinbase’s EEA Stablecoin Conversion May Reset German Tax Holding Periods
Photo: TokenPost
On Oct. 30, Coinbase plans to exchange EEA retail customers’ remaining balances of 14 restricted stablecoins, potentially starting a new German tax holding period for crypto held as a private asset. The affected assets include Tether (USDT), Dai (DAI) and PayPal USD (PYUSD). Coinbase will value remaining balances at the market rate and exchange them for USD Coin (USDC) where suitable. If USDC is unsuitable, customers will receive another supported crypto asset or currency. The conversion is tied to the European Union’s Markets in Crypto-Assets (MiCA) rules.
Source: TokenPost
