Today's crypto headlines covered fiscal policy, institutional stablecoin experiments and continuing security threats to hardware wallet users. Germany moved toward a significant change in how crypto gains are taxed, US Bank completed a live cross-border stablecoin test on Stellar, and Trezor warned customers after a phishing campaign tied to a third‑party email provider breach.
Germany drafts flat 25% tax on crypto profits
The German Finance Ministry has drafted a bill that would impose a flat 25% tax on crypto profits regardless of how long an asset is held, removing the current exemption that applies after 12 months of ownership. The proposal would apply to assets purchased from January 1, 2027, while existing holdings would remain subject to the current rules. The ministry estimates the change could raise roughly 350 million euros per year. The bill is at an early stage of coordination among federal ministries and would require further administrative steps before becoming law. From 2028, banks and trading platforms would automatically withhold the tax, according to the draft.
US Bank tests USBDC stablecoin functionality on Stellar
US Bank, the fifth largest commercial bank in the United States, completed a live cross-border payment using its own USBDC stablecoin on the Stellar public network. The test moved funds between the bank's entities in North America and Europe and exercised operational features including cutting, cashing, freezing and recovery of the stable currency. US Bank said the pilot confirmed integration with the bank's existing risk and compliance systems. The trial follows a broader industry development: a week earlier, 21 major financial institutions, including Bank of America, Citi and Goldman Sachs, announced plans to form a joint stablecoin issuer.
Trezor warns after email-provider breach and phishing campaign
Hardware wallet maker Trezor warned customers that hackers breached a third‑party email provider and used it to send a fraudulent security message claiming an STM32 entropy vulnerability affecting Trezor devices. Trezor said it had taken down the domain used in the attack and was investigating how the provider was accessed. Security researchers reported similar phishing attempts aimed at BitBox users, suggesting a wider compromise of email providers. The alert comes after a separate August breach at shipping provider ShipMonk that exposed details for 80,689 Trezor customers.
Related items and wider context
The German tax draft and the US Bank pilot highlight two concurrent trends shaping crypto: increasing regulatory and fiscal scrutiny from governments and the gradual integration of bank-issued digital currencies into existing payments and compliance systems. Stablecoins on public networks like Stellar are being explored by banks for cross-border settlement; Stellar is a public blockchain designed for fast, low-cost cross-border payments. Separately, the Trezor incident underlines persistent operational security risks for users even as institutions move toward on‑chain instruments.
Short takes
The day's coverage also noted that meme coins linked to political figures continue to drive intense price volatility in markets, while Germany's draft signals a tougher tax stance for future crypto purchases. On security, the overlapping phishing reports and earlier customer data exposure reinforce the importance of vigilance around account and shipping information.
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