Sparkassen launch crypto trading; the US softens tax penalties; France votes a 31.4 percent stablecoin levy

The day away from Cardano and Bitcoin was about banks, tax and US rules. The loudest line points to Germany, Washington and Paris.

Sparkassen, the US, the SEC

Kriptoteme and crypto.news on 20 October write that Sparkassen are launching crypto trading: BTC, ETH, XRP, SOL and POL, at €0.99 per order plus the spread. More than 230 of 339 savings banks have shown interest; DekaBank holds the keys. Deposit insurance does not apply.

US: Ways and Means approved provision 502 of the Digital Asset Tax Certainty Act 38:5. For unintentional errors the penalty is 0 percent on the first $25,000 of annual shortfall and 5 percent above; without confirmation 25 percent and 40 percent. House, Senate and a presidential signature follow. The SEC closes its crypto-rules consultation: in 60 days ~140 comments on a safe harbour and exemptions up to $5 million and $75 million. Without a CLARITY Act the rules are easier to challenge in court.

The CFTC rebuffs CME's legal stance on perpetual futures; CME treats non-expiring contracts as swaps. A federal court is next.

France, Visa, the rest

France: amendment I-3898 on a 31.4 percent levy on swaps into stablecoins passed 38:37, applying from 1 Jan 2027; minister David Amiel sought a withdrawal. Visa and Mesh announce wallet-to-merchant payments at 175M+ Visa locations, without a dedicated card; Mesh is valued at $1 billion. FINMA approves the first Swiss single-asset BTC ETF. JPMorgan sees BTC at +10 percent annualised over a decade. Solana Alpenglow activation is on 21 Oct around 15:20 CEST.

Sources: Kriptoteme, Sparkassen, crypto.news, Sparkassen, US tax, SEC, CFTC–CME, France, Visa–Mesh.