This report summarizes the key global developments in taxation and regulation within the crypto industry during the first half of May 2026.
On the tax front, Germany’s Green parliamentary group has introduced a draft bill that would remove the one-year holding-period rule for crypto assets under German tax law; Australia proposes to abolish the 50% capital gains tax discount and replace it with a system taxing the full inflation-adjusted gain.
On the accounting front, the AICPA has urged the OCC to adopt its stablecoin reporting standards in the rulemaking for the GENIUS Act, covering presentation, disclosure, and internal control requirements.
On the regulatory front, various national regulators are advancing structural legislation and restrictive measures. In North America, the U.S. Senate Banking Committee released the latest text of the CLARITY Act, adding a new "ancillary asset" category, prohibiting passive interest on stablecoins, and strengthening developer protections; Iowa signed a crypto ATM licensing bill requiring operators to obtain licenses and report their locations. In Asia, Vietnam plans to officially launch a regulated crypto asset market in the third quarter of 2026; the Central Bank of the UAE granted a stored value facility license to Crypto.com, allowing its users to pay Dubai government fees with cryptocurrencies. In South America, Brazil's central bank issued a resolution banning electronic foreign exchange providers from using stablecoins and cryptocurrencies to settle cross-border remittances, effective October 2026.
Germany’s Green parliamentary group has introduced a draft bill that would remove the one-year holding-period rule for crypto assets under German tax law. Under the proposal, gains from the disposal of privately held crypto assets would no longer become tax-exempt simply because the assets had been held for more than one year. Finance Minister Lars Klingbeil also indicated, when presenting the 2027 federal budget framework and financial plan through 2030, that the government may seek to strengthen taxation of gains from crypto asset disposals. The proposal remains at the discussion stage and has not yet completed the legislative process. Click here to read the original article.
Australia’s 2026–27 federal budget proposes replacing the current 50% capital gains tax discount with an inflation-adjusted approach from July 1, 2027, while introducing a minimum 30% tax rate on capital gains. As the Australian Taxation Office currently treats crypto assets held for investment purposes as CGT assets, gains from the disposal of assets such as Bitcoin would in principle fall within the revised CGT framework. Click here to read the original article.
The American Institute of CPAs (AICPA) sent a letter to the Office of the Comptroller of the Currency (OCC), urging it to adopt the AICPA's already-published "2025 Stablecoin Reporting Standards" in the rulemaking for the GENIUS Act. The standards are divided into two parts: Part one covers presentation and disclosure standards, requiring disclosure of total token supply, reserve asset composition, redemption terms, and custodial arrangements; part two covers internal control standards, addressing token lifecycle management, reserve asset operations, and IT controls. The AICPA noted that some stablecoin issuers are already using the standards to prepare monthly reserve reports, and cautioned the OCC not to restrict related audit work only to PCAOB-registered accounting firms, which could cause talent shortages and increased costs. Click here to read the original article.
The Central Bank of Brazil issued BCB Resolution No. 561, prohibiting electronic foreign exchange (eFX) providers from using stablecoins, Bitcoin, and other cryptocurrencies to settle cross-border remittances. The ban takes effect on October 1, 2026, but individual investors may still buy, sell, and hold crypto assets normally. eFX firms not authorized by the central bank must apply for authorization by May 31, 2027. Click here to read the original article.
Iowa Governor Kim Reynolds signed SF2296 into law, targeting licensing and regulatory requirements for crypto ATM operators. Under the law, crypto ATM operators must obtain a money transmission license and report all operating locations to the Iowa Division of Banking, with any changes to be reported within 30 days. The bill also expands state enforcement authority, allowing civil fines of up to $10,000 per violation for general violations and up to $100,000 per violation for violations of the bill’s prohibitions. Click here to read the original article.
The Senate Banking Committee released the latest version of the CLARITY Act, which is scheduled to be advanced at a committee hearing on May 14. Compared to previous versions, the latest text adds a new "ancillary asset" category, prohibits passive interest on stablecoins but allows on-chain activity rewards; and strengthens anti-money laundering and developer protection provisions. Click here to read the original article.
The Central Bank of the United Arab Emirates granted a Stored Value Facility (SVF) license to Crypto.com, allowing users of its platform to pay Dubai government fees using UAE dirhams or dirham stablecoins approved by the central bank. Crypto.com is the first virtual asset service provider in the UAE to receive this license. In the future, the license will also allow Crypto.com to integrate crypto payment services with Emirates Airlines and Dubai Duty Free. Click here to read the original article.
Vietnam's Deputy Minister of Finance Nguyen Duc Chi announced that Vietnam plans to officially launch a regulated crypto asset market as early as the third quarter of 2026. Vietnam had already opened a license application channel for domestic crypto trading platforms earlier this year. Click here to read the original article.
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