Dutch Government Proposes Tax on Unrealized Crypto Gains Starting 2028
The Dutch government has proposed a new tax on unrealized gains in cryptocurrencies, sparking debate among investors. According to a cabinet letter to Parliament dated 29 September 2026, the new tax will cover financial instruments, including shares, bonds, and options, starting from 1 January 2028. The tax rate will be 36%, and investors will not be allowed to claim a tax-free result of more than €1,000.
The proposal has left many investors concerned about the potential impact on their cryptocurrency holdings. Self-custody wallets and cryptocurrencies held on exchanges will be valued on 1 January and taxed accordingly. This means that investors may face yearly levies on their unrealized gains until 2030.
Analysts suggest that the new tax rules may favor ETF holders, as ETFs may be considered financial instruments and therefore only charged on sale. However, the novelle text is unpublished, and the definition of instruments is still unclear.
The Dutch Senate must approve the new tax rules by 31 December 2026 for them to take effect in 2028. If approved, the rules will remain in place until 2030, when the tax will be extended to other assets.