Recent developments in the Dutch Parliament are worth paying attention to. According to local sources, the majority of parliamentarians are inclined to support a new tax scheme—the implementation of the "Box 3 Actual Return Tax Law" starting from 2028.

What is the core of this scheme? In simple terms, whether you sell your Bitcoin, Ethereum, or stocks or not, as long as there is appreciation on paper, you will be taxed at a rate of 36% annually. In other words, unrealized gains will also be subject to taxation.

What does this mean for crypto investors? Even if your assets are still in your wallet, the appreciation on paper already creates a tax burden. Holding strategies may need to be reconsidered, especially during bear markets or volatile periods. Many investors might reevaluate the cost-effectiveness of holding crypto assets in the Netherlands.

This also reflects the ongoing deepening of regulation of digital assets within the traditional financial system. Countries are exploring how to incorporate crypto assets into existing tax frameworks. While the goal is regulation, differences in implementation details can often have significant impacts.