The Bundestag, Germany’s national parliament, is reviewing a motion pushed by the Alternative for Germany (AfD) party to categorize Bitcoin as a unique, decentralized digital asset deserving of strategic recognition.

The AfD’s motion, filed on Thursday, condemns the excessive regulations imposed on Bitcoin under the EU’s Markets in Crypto-Assets (MiCA) framework. They argue that Bitcoin’s distinct nature demands a different approach in legislation.

“Excessively regulating Bitcoin providers and users under MiCA threatens Germany’s innovation potential, financial autonomy, and digital sovereignty.”
Translation: “Excessively regulating Bitcoin providers and users under MiCA threatens Germany’s innovation potential, financial autonomy, and digital sovereignty.”

The AfD acknowledged the current favorable tax status of Bitcoin but stressed the ongoing legal ambiguities that hinder private investment. They urged lawmakers to embrace the trend of Bitcoin as a potential strategic asset for national reserves.

“The German government has yet to formally recognize Bitcoin’s strategic potential, be it for energy integration or as a reserve asset during times of financial instability.”
Translation: “The German government has yet to formally recognize Bitcoin’s strategic potential, be it for energy integration or as a reserve asset during times of financial instability.”

This motion aligns Germany with other EU nations advocating for a national Bitcoin reserve while requesting leniency in MiCA regulations.

Despite differing views, some believe that the MiCA regulations have not impeded crypto usage in Europe. With MiCA being fully implemented by late 2024, its influence on attracting crypto firms to Germany has been noted in industry reports. According to blockchain analytics firm Chainalysis, Germany ranks as one of the leading European countries for crypto value received.