Düsseldorf – CMS has provided comprehensive advice to Hauck Aufhäuser Lampe Privatbank AG on the applicability of the German Crypto Asset Tax Transparency Act (KStTG). The law introduces new reporting, due diligence and documentation obligations vis-à-vis the Federal Central Tax Office for crypto asset service providers and operators from 1 January 2026.
Dr Martin Friedberg and Dr Hendrik Arendt's advice focused on the tax implications for the client's business models in the area of digital asset servicing, in particular issuing and registering electronic securities under the German Electronic Securities Act (eWpG), as well as the subsidiary Hauck Aufhäuser Digital Custody GmbH's business offering as a crypto custodian. CMS provided support in categorising the regulatory and tax law requirements taking into account the integration of the Markets in Crypto Assets Regulation (MiCAR). For the companies that are now part of the ABN AMRO Bank N.V. Group, this provides clarity around the relevant legal obligations. CMS helped to identify legal and tax risks, organised responsibilities and processes and prepared systems for the requirements, thus making efficient resource and implementation planning possible in the future. The CMS team advises regularly on tax law issues relating to crypto assets and blockchain-based business models as well as on decentralised financial industry products.
According to the German Crypto Asset Tax Transparency Act (KStTG), all user master data, transaction details and asset balances are transmitted annually by electronic means, though self-disclosure by the taxpayer is also to be reviewed for feasibility. The law has already been passed by the Bundestag and is based on the European Directive DAC 8, which aims to standardise information sharing between tax authorities within the EU, and the OECD's Crypto Asset Reporting Framework.
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