A securities account transfer of crypto ETNs costs you no tax in Germany as long as you own the securities both before and after. The transferring bank must pass your acquisition data on to the new bank, by law and without you applying for anything. The move becomes expensive in two other places: your loss offset pot only comes along if you explicitly request it and transfer the entire account, and if the acquisition data get lost on the way, the new bank treats a flat 30 percent of the sale price as gain.
These questions come up particularly often in the autumn. More and more German banks and online brokers have added crypto ETNs to the ordinary securities account, and towards the end of the year many investors compare terms and switch providers. A statutory deadline that is only open once a year falls right into this window.
Crypto ETNs are notes, not coins in a wallet
A crypto ETN is an exchange-traded note. Exchange traded notes are therefore not fund units but securities through which the issuer promises you a payment whose amount depends on an underlying. With crypto underlyings, this is usually a single coin, most often Read Entire Article
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