As Germany approaches its parliamentary election on February 23, political parties are unveiling their financial agendas. The far-right Alternative for Germany (AfD) has sparked controversy with its call for the country to exit the euro and extensively deregulate Bitcoin, setting itself apart from mainstream parties prioritizing financial stability and tax reforms.
AfD’s Radical Economic Proposals
AfD has proposed abandoning the euro in favor of reinstating the Deutsche mark, backed by gold reserves. This plan challenges the widespread public and business support for the euro while also calling for the repatriation of Germany’s gold reserves held abroad.
In the cryptocurrency space, AfD advocates for “extensive deregulation” of Bitcoin, digital wallets, and trading activities, diverging sharply from Germany’s traditionally cautious regulatory stance. The party also opposes the European Central Bank’s digital euro initiative and seeks to enshrine cash as a constitutional right to ensure its continued use.
CDU/CSU Focuses on Financial Growth and Tax Reforms
Leading in the polls, the center-right CDU/CSU alliance, led by Friedrich Merz, aims to strengthen Germany’s financial sector by expanding European capital markets and attracting venture capital investments.
On taxation, the party supports increasing tax-free allowances to ease inheritance and property purchase costs while firmly opposing the reinstatement of the wealth tax, which has been suspended for decades. Additionally, CDU/CSU proposes the establishment of a specialized customs police force to combat money laundering and financial crimes.
SPD and Greens Advocate for Higher Taxes on the Wealthy
Chancellor Olaf Scholz’s Social Democratic Party (SPD) supports introducing a financial transaction tax, in line with similar measures across Europe. The party also proposes higher taxes on wealthy individuals and larger inheritance tax payments on substantial estates, emphasizing that “the super-rich should contribute more to the common good.”
The Greens share similar tax policies, including advocating for a global billionaire’s tax. Their financial policy agenda also includes stricter cryptocurrency regulations, with plans to establish a national service center focused on preventing crypto-related financial crimes. The party aims to crack down on hidden financial assets in complex corporate structures.
U.S. Signals Possible Shifts in Crypto Regulation
Meanwhile, in the United States, cryptocurrency regulation is evolving under new leadership at the Securities and Exchange Commission (SEC). The newly appointed “crypto czar” has initiated discussions on potential changes to Bitcoin reserves and the overall regulatory framework for digital assets.
Policymakers are debating whether the U.S. should follow the lead of certain corporations and nations by holding Bitcoin as part of its financial reserves. Simultaneously, there is an ongoing discussion on whether easing regulations could boost innovation or pose greater financial risks.
With Germany’s election fast approaching, the economic and financial policy stances of its political parties will play a crucial role in shaping the country’s fiscal future.
Related topics:
What Can I Buy with Bitcoin Online?
