Bad news for Dutch Bitcoiners (and all Dutch investors) Netherlands' Eerste Kamer voted for 36% tax on unrealized gains for Bitcoin, savings and investments from 2028. The TL;DR? If your Bitcoin holdings increase in value during the year, you owe tax, EVEN IF YOU DON'T SELL. Let's look at the direct implications for Bitcoin holders. In the Netherlands, Bitcoin and cryptocurrency holdings fall under "Box 3" taxation (savings and investments). This new law changes how Box 3 assets are taxed from a forfait system (assumed return) to actual return taxation. But it's not 'actual return taxation', because the new bill enforces taxes on unrealized gains/losses. It's INHERENTLY UNFAIR. What Changed? The old box 3 tax system was based on assumed returns (roughly 6% forfait return in 2026). In the new system, tax is based on capital gains/losses realized during the year. What is crazy is that real estate got special treatment, but Bitcoin, savings and investments DIDN'T. The House of Representatives rejected an amendment which gave real estate special status, with a capital gains tax only upon realization (when sold). Bitcoin and cryptocurrencies do NOT get this special treatment. This means Bitcoin gains are taxed annually based on paper value increases, even if not sold. The Netherlands is going to kill the middleclass and anyone hoping to build savings and wealth for themselves and their familes. Hard to believe it really.