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Netherlands vs United States

Crypto regulation comparison

← Back to map | Netherlands | United States
Netherlands

Netherlands

United States

United States

Legal
Legal

The Netherlands has one of Europe's strictest crypto regulatory regimes. DNB has overseen VASP registration since 2020 under the Dutch AML/CFT Act (Wwft), and many applications have been rejected. The Netherlands does not tax realized capital gains directly; instead, crypto holdings are taxed under the Box 3 wealth tax based on a deemed return on net assets. The AFM oversees market conduct. MiCA is now the governing framework.

The United States has the world's most complex crypto regulatory landscape, with overlapping federal and state jurisdictions. The SEC regulates crypto securities and has pursued enforcement actions against exchanges and token issuers. The CFTC oversees crypto derivatives and considers Bitcoin a commodity. FinCEN applies BSA requirements to crypto exchanges as money service businesses. The IRS taxes crypto as property: short-term gains at income tax rates (10-37%), long-term gains at 0-20%. New 1099-DA broker reporting rules take effect from 2025. Multiple states have their own requirements, with New York's BitLicense being the most stringent.

Tax Type Wealth
Tax Type Capital gains
Tax Rate ~1.2-1.6% (deemed return)
Tax Rate 0-37%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator DNB (De Nederlandsche Bank), AFM (Autoriteit Financiële Markten)
Regulator SEC, CFTC, FinCEN, OCC, IRS, State regulators
Stablecoin Rules Regulated under EU MiCA framework; DNB oversight
Stablecoin Rules Stablecoin legislation actively being developed in Congress; existing oversight by SEC, CFTC, state regulators
Key Points
  • DNB requires VASP registration under the Wwft (AML Act); rigorous approval process
  • Only a limited number of VASPs have obtained DNB registration (many rejected or withdrawn)
  • Crypto taxed under Box 3 wealth tax: deemed return on net assets taxed at ~31-36% (effective ~1.2-1.6%)
  • AFM regulates crypto advertising and market conduct; banned crypto ads targeting retail in 2022
  • MiCA framework applicable from December 2024, transitioning from national DNB regime
Key Points
  • SEC regulates crypto as securities under Howey test; major enforcement actions (Ripple, Coinbase, Binance)
  • CFTC classifies Bitcoin and Ether as commodities; oversees derivatives markets
  • IRS treats crypto as property: short-term gains taxed at 10-37%, long-term (1yr+) at 0-20%
  • FinCEN requires exchanges to register as MSBs and comply with BSA/AML requirements
  • 1099-DA broker reporting for centralized exchanges effective from tax year 2025
Sources
Sources