Crypto investors in Belgium face a confusing situation. You want to follow the rules and declare your Binance account properly, but the legal requirements aren't straightforward.
While Belgian law requires reporting certain foreign accounts, crypto platforms like Binance don't neatly fit into traditional banking categories. This leaves many investors uncertain about their obligations and worried about potential penalties for non-compliance.
Let's cut through this confusion with clear guidance on whether you need to declare your Binance account, how to do it correctly if you choose to, and what upcoming regulatory changes might mean for your crypto investments.
Do you need to declare your Binance account?
At present, you are not required to report your Binance account to the Central Point of Contact (CPC) of the National Bank of Belgium. Belgian law only requires the declaration of foreign accounts held with a banking, exchange, credit or savings institution established abroad. However, Binance is not considered as such: although Binance is registered in France as a digital asset service provider. The platform does not have the status of a regulated bank or financial institution. The Belgian Minister of Finance confirmed back in 2022 that crypto platforms that are not considered banks are exempt from this reporting obligation.
Which crypto accounts need to be declared?
Other platforms or types of accounts may be subject to the obligation to declare. For example, Revolut, which has a European banking licence in Lithuania, considers its crypto accounts to be foreign bank accounts that must be declared (even if you only use the crypto part).
A crypto wallet held with a Belgian platform does not have to be declared, as it is not a foreign account.
In practice, this means that the nature of the platform must be assessed on a case-by-case basis: if it offers services comparable to a bank (e.g. fiat currency account, debit card, etc.), caution dictates that it should be declared, whereas a simple crypto exchange platform without a banking licence does not fall under the current obligation.
How does it look for the future?
The rules are changing quite rapidly. The Belgian federal government has announced the upcoming introduction of a 10% tax on capital gains realised on crypto, accompanied by tighter controls. Tomorrow, reporting crypto accounts could become mandatory as it is planned that crypto platform accounts will have to be reported to the PCC in order to give the tax authorities greater visibility over these assets and to combat fraud. This measure is not yet in force at the time of writing, but it shows a clear trend towards greater transparency. Until these new rules come into force, the current situation remains unchanged.
Why still declare your Binance account?
Even if you are not legally required to do so, you may wish to declare your Binance account voluntarily for the sake of transparency and peace of mind. Some Belgian investors prefer to err on the side of caution, especially given the legal uncertainty that still surrounds crypto accounts. Declaring your account now will prevent any problems if the law suddenly changes.
However, keep in mind that declaring a crypto account is not intuitive. As there is no traditional account number, and sometimes no obvious physical address, it requires you to be creative in filling out the form. In other words, the procedure for declaring a Binance account will be non-standard, unlike a traditional bank account. Let's get into how to declare it.
How to declare your Binance account to National Bank of Belgium
The procedure is the same as for reporting any foreign account online, with a few minor differences for cryptocurrency accounts:
Step 1: head to the NBB website
Head to the NBB website on https://cappcc.nbb.be/my.policy and continue with the login.
Step 2: log in
Log in with your itsme account or eID card reader. The NBB uses CSAM, which is the main gateway to the services of the government. So you may recognise the interface from when you're declaring your yearly taxes.
Step 3: choose your preferred language
We will choose Dutch for the rest of the steps.
Step 4: go to the declaration of foreign accounts
Go to "Uw buitenlandse bankrekeningen aangeven":
Step 5: add a new account
Step 6: add the Binance account
- Rekeningnummer (nr.3,a): Enter a reference identifying your Binance account. Obviously, Binance does not provide an IBAN or traditional account number. The general advice is to enter your email address linked to Binance as the account ID The email address used to log in is a unique identifier that is sufficiently precise.
- Benaming van de instelling (nr.3,b): Enter ‘Binance’ as the name of the institution. You can specify ‘Binance (cryptocurrency platform)’ if you wish, but this is not mandatory. The important thing is that the NBB understands that it is the Binance platform.
- Land waar de rekening is geopend (nr.3,d): Select the country associated with the Binance platform. Binance operates through several entities around the world, but since Binance has a registered entity in France for the EU, you can indicate ‘France’ as the country.
- Het oudste belastbaar tijdperk gedurende hetwelk de rekening bestond (nr.3,e): Year when you opened your Binance account
- Eventuele datum van sluiting van de rekening (nr.3,f): Add the year you closed your account, in case you closed your Binance account (this is optional)
- Laatste belastbaar tijdperk waarin de inkomsten van het kind gevoegd werden bij die van de ouders (nr.3,g): Last taxable period in which the child's income was added to that of the parents. This is only relevant if the account is held in your child's name.
- BIC-code (nr.3,c): As Binance is not a bank, there is no BIC code (bank identifier) to provide. Leave this field blank or enter ‘N/A’ if not required.
Instead, you will be asked to provide the address of the institution's headquarters
- Adres van de maatschappelijke zetel (nr.3,c): add the postal address for Binance. If you have indicated France as the country, you can enter the address of Binance France SAS. This is: 17 Rue de la Vanne, 92120 Montrouge, France (Binance France's registered office). Note that they have a second address which they use for "operations" which is "1 Rue de Stockholm, 75008 Paris, France". The important thing is to provide an official Binance address. If you are unsure, use the address listed in the legal notice on the Binance website which is the Rue de le Vanne address.
Step 7: confirm
Confirm, and you're all set! You can even download the PDF for your archives to keep a copy at hand.
Declare your Binance account in your annual tax return
If you declared it to the NBB, you should also mention your Binance account in your annual tax return.
The instructions are:
- Check the box 1075
- Add an entry for your Binance account: [your name] + FRANCE + check the box
- Check the box "Zijn de wettelijk bepaalde gegevens over de rekening bij het Centraal Aanspreekpunt bij de Nationale Bank van België gemeld?" or "Les données relatives au compte, qui sont prévues par la loi, ont-elles été communiquées au Point de Contact Central de la Banque nationale de Belgique ?"
That's it, you're all done!
Taxation of cryptocurrencies in Belgium
What about taxes on cryptocurrencies that you hold or trade via Binance?
There is currently no tax on holding crypto. If you simply buy cryptocurrencies and hold them without reselling them, no tax applies to these crypto assets in Belgium (at least until 2025). Unlike some countries, there was no tax on unrealised capital gains or tax on crypto assets.
However, with the introduction of a new capital gains tax of 10% on capital gains (profits) realised, you will have to pay this on your crypto gains. In other words, if you sell your bitcoins/ethers at a profit, that profit could be taxed at 10%. This measure aims to tax private capital gains that were previously exempt. As of today (mid-2025), this tax is not yet in force but it is expected to come into effect soon once the legal framework has been voted on. We will update this article as soon as this is the case.
Long-term though, the authorities are planning increased control of crypto transactions. As mentioned, crypto accounts will have to be declared to the NBB and automatic data exchanges are being set up to enable the tax authorities to receive information about your crypto assets and transactions. What this means that the Belgian tax authorities will sooner or later be able to find out, through international channels, that you have a Binance (or other exchange) account and how much you hold in it, even if you do not declare it voluntarily.
I don't have to pay tax on my crypto gains?
Belgium does not (yet) have a specific tax regime for crypto, but applies general principles based on your investment intention and behaviour.
The tax authorities distinguishes between three main cases:
- Prudent investor (amateur): if you buy cryptocurrencies as a long-term investment, in a cautious and non-speculative manner, the tax authorities will consider you a normal private investor. Any gains you make are then tax-free (so no capital gains tax). This is the case, for example, if you buy cryptocurrencies as a hobby and hold them for several years without seeking a quick profit.
- Individual trader (speculator): If you are an active trader, with frequent buying and selling, high risk-taking and a short-term profit objective, the tax authorities may classify you as a speculative taxpayer. In this scenario, your crypto gains are considered miscellaneous income. You must then declare them in your tax return under this category and they will be taxed at 33%. For example, if you buy and sell altcoins over a few weeks by surfing volatility, the profits are considered taxable speculation.
- Professional trader: if trading or investing in cryptocurrencies is your main professional activity or a regular source of income, the tax authorities will treat you as a professional. Your crypto profits will then be taxed as regular professional income, included in your annual taxable income. This means taxation at progressive personal income tax rates (from 25% to 50% depending on the bracket), plus any social security contributions. In addition, you must register as self-employed, pay social security contributions, etc., as for any professional activity.
What about interest or staking?
Taxable crypto income (interest, staking, etc.): certain income generated by your crypto assets may be taxed specifically. For example, if you lend cryptos or deposit stablecoins and the platform pays you interest, this interest is treated as taxable income from movable property (capital income), generally at a rate of 30% (withholding tax). The same applies to income from staking, mining, airdrops or forks: their tax classification depends on the situation, but they may fall into the category of professional or miscellaneous income depending on their nature and frequency. In short, if you receive a return in crypto (excluding capital gains), find out the appropriate tax category and declare it if necessary.
I'm still a bit confused on the crypto taxes
You're not the only one. The taxation of cryptocurrencies in Belgium remains full of nuances and grey areas. The above rules are guidelines, but the authorities examine each case individually based on all the circumstances. Your initial intention, the frequency of transactions, the level of risk, the nature of the assets and even your financial knowledge may be taken into account when deciding on the tax regime. For example, an individual may argue that they are investing reasonably (and therefore not taxable) even if they have made a large gain, as long as this is consistent with the normal management of private assets. If in doubt, it is advisable to consult a tax advisor or request a ruling from the SPF Finances to clarify your situation.
ETF investing: a more sensible alternative to crypto
Cryptocurrencies like those available on Binance can be exciting, but they also come 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 saving 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.
Summary
Understanding your obligations regarding crypto accounts in Belgium can feel confusing, but now you have clarity on Binance. While currently not mandatory to declare, the regulatory landscape is shifting quickly. Being proactive about declaring your Binance account provides peace of mind as tax authorities increase their focus on crypto assets.
Remember the key takeaways: Binance accounts don't legally require declaration yet, but the upcoming 10% capital gains tax will change how crypto profits are treated. If you're looking for a more straightforward investment approach with clearer tax implications, globally diversified ETFs might be worth considering. Platforms like Curvo make this process simple by handling tax complexities and offering diversified portfolios aligned with your goals. Whatever investment path you choose, staying informed and transparent with tax authorities is your best strategy for long-term financial success.