German buyers have the widest choice in Europe, because MiCA licences passport across the EU. OKX (Malta), Bybit (Austria) and Kraken (Ireland) are all licensed and all offer a direct PEPE/EUR pair. Binance cannot onboard new EU customers and MEXC has no licence at all.
The bigger story for Germans is tax: under §23 EStG, crypto held for more than one year is currently sold completely tax-free — a rule that is under active political pressure right now.
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A MiCA licence from any EU member state passports across all 27 EU countries plus the wider EEA, so a Maltese or Austrian
authorisation is what lets an exchange serve you in Germany.
| Exchange | MiCA licence | PEPE in EUR? | Taker fee | 24h PEPE volume |
|---|---|---|---|---|
| OKX | Malta (Jan 2025) | Yes — PEPE/EUR | 0.10% | $9.10M |
| Bybit | Austria (May 2025) | Yes — PEPE/EUR | 0.10% | $3.48M |
| Kraken | Ireland | Yes — PEPE/EUR | 0.26% | $1.88M |
| Gate.io | Yes (CASP) | No — USD/USDT | 0.20% | $5.34M |
| Crypto.com | Malta | No — USD only | Spread | $0.09M |
| KuCoin | Austria, but onboarding paused | No | 0.10% | $5.75M |
| MEXC | None | Lists EUR, but not authorised for the EU | 0.05% | $0.56M |
| Binance | None — no new EU sign-ups since 1 Jul 2026 | Lists EUR, cannot onboard you | 0.10% | — |
For the full picture on what changed in July 2026, see our
MiCA guide. Bybit is our pick for German buyers: MiCA-licensed in Austria, a direct euro pair and flat 0.10% spot fees. If you are buying in size, OKX has the lowest fees of the licensed group and the deepest PEPE book we measured.
Germany treats private crypto disposals under §23 EStG as private sale transactions, which produces an
unusually generous outcome:
| Holding period | Tax treatment | Note |
|---|---|---|
| More than 1 year | Tax-free | Regardless of the size of the gain |
| 1 year or less | Your personal income tax rate | Unless total private-sale gains stay under the €1,000 annual allowance |
The €1,000 Freigrenze replaced the earlier €600 threshold from the 2024 tax year. Note that it is an
exemption limit rather than a deduction: exceed it and the whole gain becomes taxable, not just the excess.
This rule is currently contested. A federal cabinet decision on 6 July 2026 concerning the draft 2027 budget
triggered a public petition to preserve the one-year holding period, which passed its 30,000-signature quorum within days
and showed 38,286 signatures by 8 August 2026. As of September 2026 the exemption still stands, but anyone
relying on it for a long-term PEPE position should follow the legislation rather than assume it is permanent.
Not tax advice. We describe how crypto disposals are generally treated, not what you personally owe. Rules change and personal circumstances differ — if the amounts matter, use an accountant. Our PEPE tax overview covers what records to keep.
The one-year rule creates a genuine planning consideration that buyers in most other countries do not have. Because a
crypto-to-crypto swap is itself a disposal, moving PEPE into a stablecoin restarts the clock — so an investor holding
for the exemption needs to leave the position alone rather than trade around it. It also makes exchange record-keeping
important: you need to be able to prove acquisition dates.
None of that is a reason to hold a volatile meme coin longer than you otherwise would. PEPE is roughly 87% below its
December 2024 peak, and a tax exemption on a loss is worth nothing.
Yes. OKX (licensed in Malta), Bybit (Austria) and Kraken (Ireland) all hold MiCA licences that passport into Germany, and all three offer a direct PEPE/EUR pair. Binance cannot onboard new EU customers since 1 July 2026 and MEXC holds no MiCA licence.
Under §23 EStG, private crypto held for more than one year is currently sold completely tax-free regardless of the gain, and that exemption still stood as of September 2026. It is politically contested – a cabinet decision on 6 July 2026 prompted a petition that gathered over 38,000 signatures – so follow the legislation rather than assuming permanence. This is not tax advice.
Gains are taxed at your personal income tax rate, unless your total private-sale gains for the calendar year stay under the €1,000 allowance, which replaced the earlier €600 threshold from the 2024 tax year. It is an exemption limit, not a deduction, so exceeding it makes the whole gain taxable.
Bybit is our pick: MiCA-licensed in Austria, a direct PEPE/EUR pair and flat 0.10% spot fees. If you are buying in size, OKX has the deepest book we measured at about $9.1M of 24-hour PEPE volume and the lowest fees of the licensed group, and Kraken has the longest regulatory track record.
A crypto-to-crypto swap is itself a disposal, so it generally ends the holding period for the asset you gave up. An investor relying on the one-year exemption would need to hold the position rather than trade around it. Confirm your own situation with a Steuerberater.