Bitcoin and gold and fine art and Oldtimers and foreign currency, etc. are all classified as "tangible assets" and are tax-free after 1 year. You only pay taxes if you spend them before that date and make a profit. They're things bought to hodl, essentially, rather than to trade. Silver used to be in the same class, but they wanted to tax it, so they moved it into the "industrial goods" class. Now, they want to move Bitcoin into the class where stocks are, so that they can apply withholding on trading transactions. They say this is justified as it gets bought and sold, rapidly, rather than hodled, and is usually held in the form of ETFs and traded as paper.