Future Crypto News | Latest Country Updates for Crypto Currency

Netherlands

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GDP per capital

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Green

Banking

General adoption

The Dutch government has allocated a budget to further research blockchain technology. The Dutch government is encouraging the development of new applications using blockchain technology. The Dutch government is participating in public-private partnerships and has founded the Dutch Blockchain Coalition. Although it appears to become more popular every year, reliable and current data regarding cryptocurrency trade is not generally available in the Netherlands. 2021 research did show that approx. 700,000 people in the Netherlands (4%) own Bitcoin. No mainstream financial institutions offer or otherwise support cryptocurrency trading, but we see a trend of crypto currency providers focusing their services solely on professional investors or high net worth individuals.

Government View

The Dutch Bank Association has published an article about the Dutch point of view of crypto. The government hasn’t decided about any regulations regarding crypto nor

Blockchain Projects

There are many blockchain projects which are active in The Netherlands, among them are Bitfury Group, SingularityNET, Change Invest and Blockport.

Taxes and Regulation

Cryptocurrencies are taxed at a 30% tax rate to a deemed rate of return on the net value of assets and debt. As individual, Dutch tax residents, the tax on cryptocurrencies is the same as qualified on assets and called Box 3 income. Box 3 income concerns income from savings and portfolio investments. This income is calculated by applying a deemed rate of return depending on the value of the net box 3 value on January 1st of the concerning tax year. This results in the following annual Dutch taxation.

Trading Methods

Trading

Privacy

Based on European Anti-money laundering legislation (AMLD5), custodian wallet providers and providers of exchange services between cryptocurrencies and fiat currencies, have been brought within scope of the Dutch AML/CFT legislation (Wwft). These providers must apply for a registration with DNB. Obtaining such registration is a condition to being allowed to provide services in or from the Netherlands.

Last Updated

Monday, 31 October, 2022