An important step has been taken regarding the taxation of digital assets in the Netherlands. The country’s House of Representatives has advanced a bill that would impose a 36 percent capital gains tax on the appreciation of savings, cryptocurrencies and most liquid investments. According to the bill, investors will also have to pay taxes on unrealized gains, even if they have not sold their assets.
Voting in Parliament and Scope of the Bill
In the voting held in the parliament, the bill was easily accepted with 93 votes; This number was above the 75 votes needed for the legislation to advance. If it comes into force, deposit accounts, cryptocurrency assets, most stock investments and interest-earning instruments will be included in the tax scope. The law is expected to be implemented starting from 2028; It still needs approval from the Senate to come into force.
Reactions of Market Participants and Experts
As soon as the law was brought to the agenda, there was a rapid reaction from investors and industry representatives. In criticism of the bill, it was stated that the possibility of high-income individuals and capital turning to countries that provide tax advantages, especially within the European Union, has increased. Entrepreneur Denis Payre recalled that similar policies implemented in France in the 1990s led to corporate exodus. Netherlands-based crypto analyst Michaël van de Poppe also argued that the practice was wrong and that investor migration would be inevitable.
Crypto analyst Michaël van de Poppe suggested that this regulation that the government plans to implement is not understandable and investors could seriously leave the country.
According to a projection made by the financial analysis company Investing Visuals, an investor who adds 1,000 euros every month with an initial investment of 10,000 euros will reach 3.32 million euros in a tax-free environment at the end of 40 years, while with the new law, this amount drops to approximately 1,885 million euros. So, the loss due to tax reaches 1,435 million euros.
While the authorities explain that the proposed law is a modernization step in the taxation of financial assets, opponents argue that the law will harm the fintech and digital asset sector in the country. The decision of the Dutch Senate will determine whether the country will have one of the strictest cryptocurrency tax regimes in Europe.
The Latest Situation in Crypto Investments in the Netherlands
According to data announced by the Dutch Central Bank, indirect cryptocurrency investments through financial securities in the country increased to approximately 1.2 billion euros as of October 2025. This increase is mostly due to the rise in prices of major digital assets; The increase in valuations rather than new investor entries was effective.
At the end of 2020, crypto-related securities investments in the country were around 81 million euros. This figure rose to 1.2 billion euros within a few years, revealing a remarkable growth in interest in digital assets among both households and institutional investors. However, direct cryptocurrency ownership is still not common in the country.
Cryptoderivative securities account for only 0.03 percent of the country’s total investment market. In other words, traditional financial products maintain their weight in portfolios. Last year, Amsterdam-based crypto company Amdax received a 30 million euro investment for its Bitcoin treasury strategy, which plans to add 1 percent of the total Bitcoin supply to its portfolio.
