You bought some Bitcoin. Maybe some Ethereum. Perhaps you dabbled in a few altcoins. Now you're wondering: do I need to pay tax on this?
The answer isn't straightforward. Belgium doesn't have a simple "crypto tax rate". Instead, how much you pay depends entirely on how you invest. Buy and hold for years? That's one tax treatment. Trade actively? That's another. Make it your main income? That's a third.
This guide breaks down exactly how crypto is taxed in Belgium, what you need to declare, and what's changing in the coming years.
How crypto is taxed in Belgium
Belgium taxes crypto based on how you use it. The key question isn’t which coins you buy, but how you invest and how active you are. Tax authorities look at your behaviour and place you in one of three categories.
Prudent investor
You invest in crypto as part of the normal management of your private assets. You buy with a long-term view, don’t trade often, and don’t take excessive risks. If you sell crypto at a profit, this is treated as a private capital gain. These gains fall under the general 10% capital gains tax. You benefit from the yearly tax-free allowance (see below), and only pay tax on the part above it.
Speculator
You trade frequently, take on higher risk, and aim for short-term gains. Think active trading, timing the market, or jumping in and out of volatile coins. In this case, your profits are classified as “miscellaneous income”. They are taxed at 33%, and you must declare them in your tax return.
Professional trader
Crypto trading is your main activity or a regular source of income. Your profits are taxed as professional income, at progressive rates (roughly 25% to 50%), plus social security contributions. You also need to register as self-employed and meet standard business obligations.
The 10% capital gains tax on crypto
Belgium applies a 10% tax on capital gains from private investments, including crypto. When you sell crypto for more than you paid and you qualify as a private investor, the profit is subject to this 10% tax.
Who pays this tax?
The 10% rate applies to private investors. If your activity is considered speculative or professional, the profits are taxed under different rules, as explained above.
Tax-free allowance
Each person gets a yearly allowance of €10,000 in tax-free capital gains. If you don’t use it fully, part of it can be carried forward, up to €15,000.
You only pay 10% on the part of your gains above this allowance.
Example: if you realise €13,000 in crypto gains in one year, the first €10,000 is tax-free. The remaining €3,000 is taxed at 10%, so you owe €300.
What about staking, interest, or other crypto income?
Any crypto income that isn’t a price gain is taxed separately.
Interest from lending crypto or stablecoins is usually taxed as income from movable property, at 30% withholding tax. The same generally applies to staking rewards, mining income, airdrops, and forks.
Depending on the scale and frequency, this income can also be classified as miscellaneous or professional income. These returns do not fall under the 10% capital gains tax.
Declaration of crypto accounts
Alongside the 10% tax on capital gains, the government also wants to keep a closer eye on crypto holdings.
Do you have to declare crypto accounts today?
Right now, no. If you have an account on a foreign crypto exchange like Binance, Bitvavo or Coinbase, you don’t have to declare it to the Belgian National Bank’s Central Point of Contact (CPC). These platforms aren’t considered “bank or savings accounts” under current rules, so they’ve been outside the reporting requirement. The Finance Minister confirmed in 2022 that unless a crypto platform has a banking licence, it doesn’t need to be reported. But you can do so if you prefer peace of mind.
What’s changing?
That’s likely to change soon. The government plans to include crypto platforms in the CPC reporting rules. This would mean you’ll need to list your foreign crypto accounts in your annual disclosures, just like you already do with foreign bank accounts. The aim is to increase transparency and reduce tax evasion.
Even if you don’t declare them yourself, it will get harder to keep these accounts hidden. Under new EU rules, crypto exchanges will report account balances and transactions to tax authorities. Belgian authorities will receive this data automatically from other countries. In short, sooner or later the taxman will know about your Binance account and what’s in it. It’s better to stay compliant, because hiding crypto income will only become more difficult.
For now, nothing changes until the law is passed. But it’s a good idea to keep clear records of your crypto transactions so you’re ready when the rules take effect.
Grey areas still exist
Even with clearer rules, crypto taxation in Belgium isn’t fully black and white. Tax authorities assess situations case by case:
- Your intention (long‑term investment or quick profit)
- How often and how much you trade
- The level of risk you take (for example, leveraged trading)
- The type of crypto you hold (established coins vs. obscure tokens)
- Your background and knowledge (if you work in finance or IT, they might assume you understand the risks)
If you’re unsure how your activity will be classified, speaking to a tax advisor or requesting a ruling from the FPS Finances can give you clarity.
ETF investing: a more sensible alternative to crypto
Investing in crypto can be exciting, but it also comes with significant risks: extreme volatility, unclear regulation, and a high chance of loss. For many Belgians looking to grow their savings over time, ETF investing offers a safer, more reliable path.
What are ETFs?
ETFs (exchange-traded funds) let you invest in a large number of companies all at once. Instead of trying to pick individual winners like Amazon or Tesla, or hoping your favourite crypto coin goes up, you invest in the entire market through a single, diversified fund. For example, an S&P 500 ETF lets you invest in the 500 largest companies in the US, while a MSCI World ETF gives you exposure to over 1,500 companies across developed markets worldwide.
By spreading your investments across thousands of companies, you reduce your risk. You’re not gambling on one meme coin or one tech company, you’re investing in the global economy. History shows that it pays off too:
ETFs are tax efficient
You have to pay the Belgian transaction tax, which is known as the TOB. This tax is between 0.12% and 1.32% depending on the ETF. And the 30% dividend tax can be avoided by investing in accumulating ETFs rather than distributing ETFs. Accumulating funds reinvest the dividends rather than paying them out to you.
Curvo: the easiest way to invest in ETFs
Choosing the right ETFs to invest in can be a challenge. But that's not all. You have to understand the intricacies of investing, comprehend the impact of taxes on your portfolio, learning how to use your broker, and know when to rebalance your portfolio. That's why we built Curvo. To make things easy so you can spend your free time on the things that matter most to you.
Get the best portfolio tailored to you and your goals
Invest in one of five portfolios, each optimised for a particular financial goal and appetite for risk. When you sign up, you're asked a series of questions to get to know you and learn what type of investor you are. Based on your answers, you are matched with the best portfolio. Your financial situation and goals (and even your attitude to risk) may change over time. That's why this process is repeated regularly to make sure that your investment strategy always remains aligned to you and your needs.
Diversification at its core
Each portfolio is globally diversified and invests in over 7,500 companies. That's a lot more than investing all your savings in a crypto coin.
All your money is invested
Your investments work with fractional shares. This means that all your money is put to work. There will never be cash sitting on your account doing nothing.
No transaction tax
There is a way to passively invest in ETFs while not having to worry about the transaction tax. At Curvo, all taxes are taken care of.
Invest sustainably
Sustainable investing is challenging because everyone has different beliefs and values. That's why your investments focus on one guiding principle: none of the portfolios invest in companies that are considered destructive to the planet.
Built for monthly investing
You can set up a monthly savings plan where your selected amount is automatically debited from your bank account and invested in your portfolio at the start of each month. This way, it's easy to adopt the best money habits. Also, Curvo does not charge any transaction fees. And your investments support fractional shares meaning all your money is invested. So Curvo is ideal for monthly investing.
Discover how Curvo's app works.
Conclusion
Crypto taxation in Belgium is no longer a grey area. With the 10% capital gains tax now in place and reporting requirements coming soon, you need to keep track of your transactions and understand where you stand as an investor. Whether you're classified as a prudent investor, speculator, or professional trader makes a real difference to how much tax you'll pay.
The volatility and complexity of crypto make it a challenging investment for most people. If you're looking to build wealth over time without the stress of daily price swings and tax headaches, ETFs offer a simpler path. They give you broad diversification, lower risk, and straightforward tax treatment. Whatever you choose to invest in, keep good records and stay informed about the rules. Your future self will thank you for it.