Dutch lawmakers have voted 93 to pass a bill that would impose a 36% annual levy on investment wealth, including cryptocurrency holdings taxing paper gains even when investors have not sold their assets, with the measure now headed to the Senate ahead of a potential 2028 introduction.
The proposal passed comfortably with 93 votes — far above the 75 required — pushing the country closer to one of Europe’s toughest crypto taxation regimes.
The measure would impose a 36% levy on investment wealth, including bank savings, equities, interest-bearing instruments and cryptocurrencies.
Most controversially, the Netherlands crypto tax applies even when investors do not sell — meaning unrealized gains could still be taxed.
The bill now heads to the Senate in Netherlands before potentially taking effect in the 2028 tax year.
Netherlands crypto tax targets unsold profits
Netherlands crypto tax fundamentally reshapes how digital assets are treated by authorities. Instead of taxing only realized profits, authorities intend to estimate annual asset growth and tax that theoretical increase.
Supporters say it modernizes wealth taxation across financial markets. Critics call it punitive.
Crypto analyst Michaël van de Poppe described the plan bluntly:
“This will push capital and entrepreneurs out of the country. The Netherlands risks losing its competitive position in digital finance.”
French entrepreneur Denis Payre pointed to precedent:
“We saw similar measures in France in the late 1990s. Wealth migration followed quickly.”
Netherlands crypto tax could cut retirement portfolios nearly in half
Market simulations circulating among investors illustrate why reaction has been swift.
Data published by Investing Visuals suggests a long-term investor starting with €10,000 and adding €1,000 monthly for 40 years could reach about €3.32 million without the policy.
Under the Netherlands crypto tax framework, the projected value falls to roughly €1.885 million — a €1.435 million reduction.
The fear: long-term investing becomes structurally disadvantaged compared with lower-tax jurisdictions.
Netherlands crypto tax sparks EU relocation fears
Opponents argue high-net-worth investors could simply move elsewhere inside the European Union where cross-border relocation is straightforward.
The debate mirrors pushback seen in U.S. wealth-tax discussions, where entrepreneurs openly discussed moving states or countries.
Industry voices warn the Netherlands crypto tax risks damaging the country’s fintech brand — historically considered one of Europe’s most innovation-friendly environments.
The timing is notable. According to De Nederlandsche Bank, Dutch indirect crypto exposure through securities reached €1.2 billion by October 2025 — up sharply from €81 million in 2020.
Most of the increase came from price appreciation rather than new inflows, suggesting digital assets are increasingly embedded in traditional portfolios.
Even so, crypto securities still represent just 0.03% of the national investment market — meaning the Netherlands crypto tax targets a small but rapidly growing sector.
Netherlands crypto tax threatens Bitcoin treasury strategy growth
The policy could also affect institutional initiatives. Dutch firm Amdax recently raised €30 million to launch a Bitcoin treasury strategy in Amsterdam aiming to accumulate up to 1% of total BTC supply.
Taxing unrealized gains annually could complicate treasury-style holdings, which rely on long-term appreciation rather than frequent trading.
The Senate’s decision will determine whether the Netherlands crypto tax becomes law — and potentially one of the strictest digital-asset tax frameworks in Europe.
Supporters call it fair wealth taxation. Critics call it an exit signal.
Either way, the policy debate has already achieved one outcome: investors across Europe are recalculating where they want their capital — and their residency — to live.
