Bitcoin Taxation in the Netherlands Also Includes Unrealized Gains

The Netherlands is preparing to introduce one of the strictest tax policies in Europe regarding crypto: starting in 2028, Bitcoin taxation in the Netherlands will also target unrealized capital gains, meaning the paper profits that an investor has not yet cashed in. This was reported in an analysis cited by Crypto Briefing on September 29, 2026.

Key Points

• The Netherlands plans to tax unrealized Bitcoin capital gains starting in 2028, according to a report cited by Crypto Briefing.
• The new approach is based on mark-to-market valuation: crypto will be taxed annually based on value changes, not just at the time of sale.
• The change could alter how Dutch residents assess their Bitcoin positions and generate market uncertainty as 2028 approaches.
• On Pluang, about 70% of Bitcoin orders are purchases, with an average holding period of around 110 days.

How Bitcoin Taxation Changes in the Netherlands

With the new regulatory framework, the Dutch tax authority would assess the value of an investor's Bitcoin positions once a year and tax any increase, even if the coins remain idle in a wallet. This is the typical mark-to-market mechanism: instead of waiting for a sale event to trigger the tax, the system considers the annual market value change as taxable.

This represents a significant departure from how most jurisdictions, including the Netherlands until now, have treated crypto. The traditional approach taxes gains only when the asset is actually sold or exchanged. Under the current model, those holding Bitcoin during a multi-year rally pay nothing until they realize that gain by selling. The upcoming Dutch crypto regulation in 2028 would put an end to this deferral, replacing it with a recurring annual assessment linked to market prices rather than the investor's trading choices.

Potential Impact on Market and Investors

The practical effect of mark-to-market crypto taxation is that an investor's tax obligation would move with the market itself, not with their buying and selling activity. A significant rally could generate a tax liability even for those who have never touched their positions, while a subsequent downturn could leave that same investor facing taxes on a gain that has already evaporated on paper.

This dynamic has already caught the attention of industry observers. The Crypto Briefing report notes that the measure is expected to affect how Dutch residents assess their crypto and could introduce market uncertainty as the 2028 deadline approaches. The same report found that predictive markets tracking Bitcoin's price trajectory have shown a slight slowdown in confidence towards higher price targets, a phenomenon linked to the tax announcement, although it did not quantify a direct cause-and-effect relationship.

Why it matters: annual taxation on unrealized crypto gains eliminates the flexibility that buy-and-hold investors currently rely on to decide when to pay taxes. If the measure is confirmed until 2028, those holding Bitcoin in the Netherlands will need to plan for potential tax obligations even in years when they do not make any transactions, a factor that could reshape how retail and institutional investors structure their crypto positions in advance.

Investors and exchanges are awaiting further details. The implementation specifics—such as how assessment dates will be set and whether thresholds or exemptions will be provided—have not yet been disclosed, and further clarifications from the Dutch government are expected in the lead-up to the regulation's enactment, as it works to define the final framework.

What Trading Data Shows on Pluang

The order flows recorded on Pluang indicate a consistent buying interest rather than caution: about 70% of the orders placed on the platform are purchases, and the typical investor holds their Bitcoin position for about 110 days before taking action. This combination of stable buying demand and a multi-month holding pattern suggests that platform users treat Bitcoin as a position to accumulate and hold, rather than as a tool for quick trading.

Overall, Pluang's data shows stable daily engagement with Bitcoin, despite the impending shift in Bitcoin taxation in the Netherlands. The two developments are not directly linked geographically or in terms of user base, but they highlight a broader tension currently running through the crypto market: regulatory frameworks are moving towards taxing unrealized gains just as trading platforms continue to record investor behavior oriented towards buying and holding positions.