The crypto industry is pushing back on Germany’s plans to abolish its tax-free regime on cryptocurrency gains, saying it will cause the asset to be treated unequally compared to other investments and lead to legal uncertainty.

Germany proposes to tax crypto gains the way it taxes gains from shares. The crypto industry and some tax professionals say the country should continue to treat cryptocurrency gains similar to gold because both have comparable financial characteristics.

“There is a constitutional argument of equal treatment which requires proper reasoning to explain why crypto-assets are different from this big bucket provision, which includes golds, …