Belgium

Cryptocurrencies are legally recognized in Belgium as virtual digital assets, generally treated as speculative investment property. Holding and trading them is legal. There is no specific crypto law, instead, existing general tax laws apply, with taxation heavily dependent on the investor's behavior and the nature of their activities. The Federal Public Service Finance (SPF) and the Special Tax Inspectorate (STI) are the primary authorities responsible for crypto taxation. These activities are governed under general income tax law, with classifications often determined by advance rulings. Taxation for individuals depends on how your activity is classified. Non-speculative investors, managing their assets prudently, face a 10% capital gains tax on profits from 1 January 2026. Prior to this date, these gains were exempt. Speculative traders, characterized by frequent activity and short-term profit-seeking, are taxed at a flat 33% on their gains as "miscellaneous income." Professional traders, engaged in crypto activities as a primary occupation, are subject to progressive income tax rates ranging from 25% to 50%. Both converting crypto to fiat currency and swapping one cryptocurrency for another are considered taxable events. Belgium does not define a fixed holding period to determine tax rates, instead, the tax authority assesses investor behavior to classify them as non-speculative, speculative, or professional. Corporate entities involved in crypto are subject to standard corporate tax rates of 20-25%, and cryptocurrency transactions themselves are exempt from VAT. Specific crypto activities also fall under these classifications. Staking rewards are taxed as income when received, typically at 33% for speculative investors or 25-50% for professionals, though official guidance is limited. Mining is generally treated as professional business income (25-50% progressive rates), allowing for deduction of hardware and electricity costs, or occasionally as miscellaneous income (33%) for hobby miners. DeFi activities, such as yield farming, consider each transaction a taxable event, with rewards usually taxed at 33% for speculative or 25-50% for professional engagement. NFTs are treated similarly to other crypto assets, their sale generates capital gains (10% non-speculative, 33% speculative) or business income (25-50% professional). A significant reform took effect on 1 January 2026: a new 10% capital gains tax applies to crypto assets for non-speculative investors, thereby eliminating the previous 0% exemption for "prudent management." Additionally, from 2025, individuals are required to declare their crypto accounts to the Central Contact Point (CCP) of the National Bank of Belgium.