The Netherlands is poised to implement a groundbreaking change in the taxation landscape for digital assets. The Dutch House of Representatives has suggested a substantial 36% tax on the capital gains from savings, cryptocurrencies, and other liquid investments. Remarkably, this potential law introduces taxing of unrealized gains, meaning investors could owe taxes regardless of asset sales.
What Are the Details of the New Tax Bill?
Receiving impressive backing, the bill passed with 93 votes, easily surpassing the 75 needed for further progress. If ratified, a vast range of financial holdings such as bank accounts, cryptocurrencies, and equities will be subject to this tax starting in 2028. The bill, however, awaits the Dutch Senate’s endorsement for final affirmation.
Will This Lead to a Financial Exodus?
The legislation has already triggered extensive debates among both investors and stakeholders. Opponents argue that the high tax could push wealthier individuals to seek more tax-friendly environments within the EU. Reminiscing about France’s 1990s experience, businessman Denis Payre noted a similar exodus of businesses. Dutch analyst Michaël van de Poppe emphasized the policy’s potential to drive investors abroad.
Crypto analyst Michaël van de Poppe emphasized that the government’s proposed measure lacks clarity and could push serious investors to relocate abroad.
According to Investing Visuals, the repercussions are stark: without the tax, an investor beginning with €10,000 and adding €1,000 monthly could accumulate €3.32 million over 40 years. The proposed tax law reduces this potential to around €1.885 million, marking a €1.435 million difference due to the tax.
Proponents of the bill argue it is a necessary evolution for fairer taxation of financial assets, despite concerns that it could weaken the Dutch fintech market and digital asset sectors. The Senate’s forthcoming decision will reveal whether the Netherlands will adopt one of the toughest crypto tax regimes in Europe.
How Are Crypto Investments Trending in the Netherlands?
Recent data from the Dutch Central Bank indicate a significant jump in indirect crypto investments via financial securities, now totaling about €1.2 billion as of October 2025. The rise results mainly from the increasing value of major cryptocurrencies rather than a surge in new investors.
In contrast to 2020’s total of €81 million in crypto-related securities, today’s figures reflect substantial growth. Though interest from households and institutions is clear, direct crypto ownership remains rare in the Netherlands.
Crypto derivatives comprise a tiny 0.03% of the country’s investment market, illustrating the predominance of traditional financial products. Additionally, Amsterdam’s crypto firm Amdax recently secured €30 million to pursue a Bitcoin treasury strategy, aiming to control 1% of Bitcoin’s supply.
