Bitcoin and the 2025 federal election: between clarity and silence
The 2025 German federal election is looming, and Bitcoin is becoming a key issue for more and more voters. Even though many Bitcoin users are convinced that the only real choice is sound money, the direction of the German legal space has a significant impact on the success or failure of entrepreneurs who rely on Bitcoin as a driver of innovation. As a representative body for entrepreneurs, we see it as our task to analyze for our members which parties are clearly positioning themselves in favour of Bitcoin.
It is particularly pleasing that three parties have already recognized where the journey is heading and have actively introduced Bitcoin into the political discourse: The AfD, Alliance Germany and the FDP formulate clear and concrete positions on Bitcoin in their election manifestos.
In contrast, the Greens, SPD, CDU, CSU and Left Party either remain vague or refuse to address the issue altogether. It is striking that these parties have unanimously refused to participate in the Bitcoin Bundesverband’s election touchstone, citing a lack of time and a joint agreement. Although it is possible to draw conclusions about the CDU/CSU and the Greens’ stance on cryptocurrencies from previous statements and the election manifesto, without clear statements it remains uncertain what policy voters can actually expect with regard to Bitcoin.
1. the clear supporter: the FDP
The Free Democrats present themselves as the driving force behind a positive Bitcoin policy. Their key positions include:
- Bitcoin vs. crypto: Bitcoin is considered digital gold, while other cryptocurrencies serve as platforms for decentralized applications and smart contracts. Bitcoin also has a fixed money supply, which guarantees particular resistance to inflation. However, cryptocurrencies are generally seen as a useful addition to the traditional financial system. The FDP supports Decentralized Finance (DeFi) and other approaches in the crypto industry, which is why it does not want to differentiate between Bitcoin and other cryptocurrencies when it comes to taxation and regulation.
- Promotion of crypto innovations: To promote innovation in the bitcoin industry, the FDP plans to establish a crypto sandbox – a flexible regulatory framework designed to create low barriers to entry for start-ups and facilitate new start-ups.
- Bitcoin as a strategic reserve: Like gold, Bitcoin is seen as an inflation-resistant asset. The FDP sees the potential to make Germany less dependent on external shocks through Bitcoin.
- Tax policy: The party is in favor of tax exemption for Bitcoin profits after a holding period of one year and is also calling for an analogous regulation for companies. The FDP also points to uncertainties regarding VAT issues, which should be clarified, but without providing details.
In summary, it can be said that the FDP is clearly positioning itself as a promoter of innovation and economic freedom. It not only wants to clear the way politically for Bitcoin and crypto, but also actively expand this through support measures.
2. the innovation promoter: Alliance Germany
In its election manifesto, Bündnis Deutschland positions itself as a staunch supporter of Bitcoin and emphasizes its potential as an alternative means of payment, driver of innovation and strategic asset. In contrast to the FDP, Bündnis Deutschland, like the AFD, focuses exclusively on Bitcoin and ignores other cryptocurrencies.
- Economy and innovation: the alliance sees Bitcoin as a driving force for technological and economic innovation. By promoting Bitcoin companies and creating a regulatory environment for its use, Germany is to be established as a leading location for the Bitcoin industry.
- Bitcoin mining promotes the energy industry: Bitcoin mining is to be used to utilize surplus energy from renewable sources. This will stabilize the power grid as well as create economic added value in the expansion by always having a highly flexible consumer immediately available.
- National Bitcoin reserve: The alliance sees a national Bitcoin reserve as a strategic advantage. This should not only serve as a protective shield against financial instability, but also underline Germany’s claim to leadership in the digital world.
Through the combination of regulatory support, integration into the energy industry and the development of strategic reserves, the party is positioning itself as a strong advocate of digital transformation with Bitcoin.
3 Critical, but libertarian: the AfD
The AfD emphasizes the advantages of Bitcoin from a market economy perspective and thinks little of other cryptocurrencies, which they refer to as “AltCoins”:
- Inflation-free money: Bitcoin is seen as a stable store of value that could endure in the long term and prevail in the market against government currencies and gold. However, the AfD is NOT planning a strategic Bitcoin reserve, as it continues to rely on gold as the best reserve asset.
- Freedom from regulation: The AfD largely rejects state intervention and trusts in the self-regulation of the market. However, it expressly emphasizes that Bitcoin must assert itself on the market alone. Economic or promotional support from the AfD is not to be expected.
- Tax and legal framework: The party calls for the retention of tax exemption for Bitcoin profits after a holding period of one year and is against additional levies. Bitcoin should be treated like gold for regulatory and tax purposes.
This AfD stance could particularly appeal to voters who prefer a free market economy without state interference.
4. unclear positioning of the Greens, CDU/CSU, SPD, Left Party and BSW
The major parties CDU/CSU, SPD, Greens, Left Party and BSW have not responded to the Bitcoin Bundesverband’s election test stones. The CDU, SPD and Greens openly stated in their refusal that they had agreed together with the FDP and Linke not to guarantee participation in the election test stones. Even when asked again and told that one party had answered the questions, the other parties stuck to their decision not to answer the touchstones. This attitude shows a significant lack of transparency and orientation in a subject area that is becoming increasingly important for many voters.
Nevertheless, the CDU/CSU and the Greens have made public statements on Bitcoin and cryptocurrencies in recent years, which is why we can make some assumptions here, even without the specific answers to the election test stones. In addition, the Greens have included the term cryptocurrencies specifically in connection with financial crime in their election manifesto.
The Greens
The Greens’ election manifesto emphasizes the intention to combat the misuse of cryptocurrencies. A nationwide service center is to pool expertise and help countries to better track criminal activities in the crypto industry. However, it is not just in the crypto industry that the Greens would like to see significantly more monitoring, control and data storage than is currently planned, but in the financial world as a whole.
- Taxation of Bitcoin profits: As early as 2021, the Greens have proposed abolishing the tax exemption for capital gains after a holding period of one year. Taxation could even be as high as income tax. This position would be particularly burdensome for long-term investors and savers, but has not yet been confirmed for the 2025 federal election.
- Proof-of-Work (PoW): The party has been extremely critical of PoW mining in the past. It remains unclear whether they will continue to seek a ban on this energy-intensive technology. There still seems to be no understanding of the fact that Bitcoin mining, if used correctly, could even accelerate the energy transition. Yet mining would be one of the most important tools for achieving their environmental protection goals.
CDU/CSU
The CDU and CSU do not mention cryptocurrencies in their election manifesto, but take a similar position to the Greens, as can be seen from the Bundestag motion of 12.12.2023. Here, the misuse of cryptocurrencies for money laundering and terrorist financing is particularly emphasized and stricter measures to combat these abuses are called for.
- Tighter regulations: Proposed measures include:
- A registration requirement for self-custody wallet addresses that must document control and losses.
- A ban on crypto mixers and on exchanges between cash and cryptocurrencies.
- Automated retrieval procedures for crypto wallets, similar to the existing account retrieval procedure.
- Restrictions on crypto: Cryptocurrencies are seen as a primary haven for criminal funds and terrorist financing. The focus is on creating preventive measures and enforcing them more strictly in order to effectively curb abuse.
SPD, Left Party and BSW
A position on Bitcoin or cryptocurrencies by the SPD, the Left Party and the BSW cannot be deduced from their previous programs or public statements. Unfortunately, this attitude signals a lack of willingness to engage with an issue that is becoming increasingly important to many voters.
Conclusion: Orientation for Bitcoiners going to vote
The FDP and Alliance Germany position themselves as clear supporters of an innovation-driven Bitcoin policy and, in the case of the FDP, a crypto policy that promotes innovation and economic freedom. The AfD, on the other hand, is committed to a libertarian, low-regulation approach without subsidies, focusing exclusively on Bitcoin and explicitly distancing itself from other cryptocurrencies.
However, it is important to emphasize that the inclusion of certain points in an election manifesto does not automatically mean that they will be implemented – even if the party assumes government responsibility.
The Greens and the CDU remain critical, focusing on regulatory measures and stricter tax policy, thereby raising important questions that could pose considerable challenges for Bitcoin savers and companies in particular. The SPD, Linke and BSW offer no starting points for an assessment due to a lack of concrete statements.
The silence of the Greens, CDU, SPD, Left and BSW in response to our questions leaves a clear gap in the political discourse, which is not only regrettable, but also gives the impression that one of the most relevant social issues of this century is being overlooked by most parties or criticized out of ignorance. In the coming years, we will work hard to promote this discourse in all parties and bring more transparency to the political landscape.
We have submitted an educational offer to all parties and are pleased to have already received expressions of interest from the CDU and the FDP.
Note: This article will be updated as soon as further responses or clarifications are received from the parties. Clarity and transparency remain crucial to enable voters to make an informed decision.
- Update 25.01.2025: Bündnis Deutschland hinzugefügt
Election touchstones and answers
Answered for the FDP: Frank Schäffler & Olaf in der Beek
Answered for the AFD: Peter Böhringer & Kay Gottschalk
On December 9, 2024, the Bitcoin Bundesverband asked 96 members of the Bundestag 14 questions about Bitcoin in the context of the 2025 Bundestag elections.
That is the result of our inquiry.
Our CEO @pjah91 is currently signing letters that will be delivered to 96 members of the Bundestag on Monday. In it, we ask 14 questions about Bitcoin in the context of the 2025 federal election and offer the parties an educational program. pic.twitter.com/rb5gxA5qD8
- Bitcoin Bundesverband (@btcverband) December 7, 2024
1. differentiation of crypto assets
Question: Do you differentiate between Bitcoin and other crypto assets? If so, what key differences do you see?
- Answer FDP: Yes, we differentiate between Bitcoin and other crypto assets. The main difference is that Bitcoin is regarded as digital gold, while many other cryptocurrencies such as Ethereum serve more as platforms for decentralized applications and smart contracts. Bitcoin also has a fixed money supply, which guarantees particular resistance to inflation. This makes Bitcoin attractive for investors. Other cryptocurrencies have different economic models and functions, which are often more focused on FinTech use cases. We also see cryptocurrencies as a useful addition to the traditional financial system. Decentralized finance (DeFi) creates new opportunities that we want to promote through a reliable legal framework. However, we do not want to differentiate between the taxation of different cryptocurrencies. We do not want to favor or disfavor any cryptoasset in terms of taxation so that private currency competition can develop.
- Answer AfD: Bitcoin has long since established itself as the market leader and can therefore be regarded as the only relevant crypto asset today (at least from a political perspective). The AfD is therefore not currently concerned with altcoins.
2 Bitcoin in German financial policy
Question: What role do you think Bitcoin could play in Germany’s future financial policy, for example as a reserve currency, in payment transactions or in the mining sector?
- FDP response: Bitcoin could play a significant role in Germany’s future financial policy, especially as a supplement to the Bundesbank’s existing currency reserves. Bitcoin could serve as digital gold to diversify government reserves. In addition, Germany could play a pioneering role in the mining sector through the targeted use of renewable energies.
- AfD response: The AfD has long supported Bitcoin as non-inflationary money. Since 2015, the responsible AfD federal committee has repeatedly emphasized Bitcoin and its nature as an investment that cannot be devalued by central bank intervention. In contrast to all other parties in the Bundestag, we have never called for taxation (sales or profit tax). Nor have we called for the regulation of wallets, exchanges or even bans such as those currently being pursued by the EU. For years, we have wanted to give Bitcoin and its investors the greatest possible freedom from regulation and taxation; in other words, the libertarian freedom to be left alone.
3. bitcoin as a strategic reserve
Question: Does your party view Bitcoin as a strategic resource, comparable to gold reserves?
- FDP response: The Free Democrats campaigned for the ECB and the Bundesbank to include Bitcoin in their currency reserves. Bitcoin offers a further level of diversification that is less dependent on geopolitical instabilities and has a high level of liquidity. This strategic reserve can help Germany to become less dependent on external shocks.
- Answer AfD: BTC is (welcome) inflation-free money – in this respect there are some parallels with gold.
4. opportunities and risks
Question: What opportunities and risks does your party see for the Federal Republic of Germany with regard to Bitcoin?
- FDP response: Bitcoin’s opportunities for Germany lie in the promotion of innovation, the diversification of financial markets and protection against inflation. Bitcoin challenges the traditional financial system, which we Free Democrats see as an opportunity for more competition between currencies. Risks could arise from regulatory uncertainties. However, a clear legal basis minimizes these risks.
- Answer AfD: See above answer on financial policy regarding BTC.
5 Legal clarity
Question: What measures does your party consider necessary to improve the legal basis for the use of Bitcoin as a means of payment and asset for businesses?
- FDP response: In order for companies in Germany to make greater use of Bitcoin, market-driven solutions are needed that offer practical approaches. Providers of payment services and wallet solutions should develop easy-to-integrate products that make dealing with Bitcoin secure and efficient. At the same time, the financial sector must establish standards for accounting and compliance in order to ensure legally compliant use. Tax incentives could support the process, but it is crucial that companies themselves test innovative models for Bitcoin payments and asset management against a legal framework.
- Answer AfD: A broad guarantee that the BTC will also be legally “left alone” in the long term – i.e. regulated as little as possible.
6. reduction of bureaucratic hurdles
Question: Would your party be prepared to reduce bureaucratic hurdles in order to make Germany more attractive as a location for Bitcoin companies?
- FDP response: The Free Democrats stand for the reduction of bureaucracy and for crypto-friendly regulation. We are convinced that this will make Germany more attractive as a crypto location.
- Answer AfD: Leave it alone. The market will take care of the rest. Unfortunately, some EU regulations are now too strict. The AfD is by far the biggest critic of these EU restrictions.
7. promotion of innovations
Question: What reforms do you think are needed to encourage innovation in the Bitcoin space?
- FDP response: The establishment of a crypto sandbox is important for promoting innovation in the Bitcoin sector. A flexible regulatory framework and low entry barriers for start-ups should make it easier to establish new companies. Under such experimental clauses, future-proof business models can be developed in which participants in the sandbox have to comply with fewer and fewer regulatory requirements as they continue to scale their companies. We are also calling for BaFin’s remit to be expanded to include financial market promotion. At the same time, it is important that BaFin processes license applications efficiently, quickly and in a technology-neutral manner.
- Answer AfD: See above answer on financial policy regarding BTC.
8. tax exemption for private individuals
Question: Does your party support the tax exemption of gains from Bitcoin after a holding period of one year (analogous to gold)? If not, what changes do you propose?
- Answer FDP: Yes. We are also committed to further increasing the exemption limit for private capital gains from the current EUR 1,000.
- AfD response: For years, we have been in favor of maintaining the relatively privileged tax position of BTC and BTC investors: no sales tax and tax exemption of price gains after one year (all analogous to gold).
9. tax framework conditions for companies
Question: Are there any tax rules for Bitcoin companies that you think should be reformed?
- FDP response: Companies, like private individuals in Germany, should be allowed to benefit from tax exemption after a one-year holding period. There are also uncertainties regarding VAT issues that should be clarified. A solid legal basis creates the foundation for economic activity.
- Answer AfD: See previous answer.
10. stance on Bitcoin mining
Question: What is your party’s fundamental stance on Bitcoin mining? Are there differences in the view for Germany and the EU?
- FDP response: The FDP supports Bitcoin mining and rejects a ban on the proof-of-work consensus mechanism. This is central to Bitcoin and many blockchain projects.
- AfD response: My party is combating the main obstacle in Germany, the super-high energy costs, by fundamentally changing energy policy. Without these reforms, BTC mining will unfortunately have almost no chance in Germany.
11 Bitcoin mining and renewable energies
Question: How do you assess the role of Bitcoin mining as a consumer of surplus energy and for stabilizing the power grid when integrating renewable energies?
- FDP response: We see the use of surplus energy through Bitcoin mining as an opportunity for more efficient energy management.
- Answer AfD: You can do it – but it has to be based on the market economy.
12. integration in education and research
Question: Is your party planning any initiatives to incorporate Bitcoin and its use more into education and research programs?
- Answer FDP: With the interest in Bitcoin in recent years, the demand for corresponding educational offers has also increased. We support the fact that this demand meets corresponding offers.
- AfD response: We will always speak out in favor of the libertarian “leaving the community alone”. The BTC community has been very good at educating itself on its own behalf for years – and doesn’t need politics to do so.
13. promotion of open source technology
Question: How would your party like to ensure that Germany remains innovative in the area of open source technology for Bitcoin?
- FDP response: As Free Democrats, we want to support innovation and promote entrepreneurship. To this end, business-friendly regulation is important in order to keep companies in the open source sector in Germany.
- AfD response: We are not planning any bureaucratic regulation here – but here, too, the BTC must assert itself in the programming rooms.
14. national Bitcoin strategy
Question: Could you imagine developing a national Bitcoin strategy for Germany, similar to the planned approaches in the USA or the implementation in El Salvador?
- FDP response: We are in favor of creating a national Bitcoin strategy for Germany. This strategy should include measures to promote Bitcoin as an asset, to support Bitcoin companies and to develop education and research. The development of a reliable legal and tax framework that guarantees freedom of innovation is central to this.
- AfD response: See PM from November 2024: https://www.afd.de/peter-boehringer-erhalt-der-bitcoin-freiheit-durch-besteuerungs-und-regulierungszurueckhaltung-der-politik/.
Discussion on Bitcoin in the 2025 federal election campaign in the Bitcoin Bundesverband forum at: https://forum.bitcoin-bundesverband.de/t/bitcoin-bundestagswahl-2025-ergebnisse-unserer-analyse/92
Leave a Reply
Your email is safe with us.