Capital Gains Tax on Crypto in Belgium from 2026: How to Prepare?

As of 1 January 2026, Belgium will introduce a 10% capital gains tax on financial assets, including cryptocurrency. This marks a fundamental shift in the country’s tax treatment of digital assets. From then on, all realized crypto gains will, in principle, have to be reported. The well-known exemption for the normal management of private wealth will largely disappear. However, the speculative track with its 33% tax rate unfortunately remains in place. The long-standing debates over whether crypto transactions qualify as normal management, speculative or even professional income therefore do not disappear, but will run in parallel with this new general regime.

These rules cannot be viewed in isolation. They are combined with the new crypto reporting obligations under the EU DAC8 directive and the Belgian Central Point of Contact (CAP). From 2026 onwards, the Belgian tax authorities will receive unprecedented access to crypto account data and transaction records. The combination of a mandatory reporting obligation with international data exchange means that the era of relative anonymity in crypto is definitively over.

Unsurprisingly, in recent months we have been contacted more and more often by crypto investors in Belgium asking how they should prepare for this new reality. Below we highlight several practical steps and key considerations that every investor should keep in mind in order to remain compliant, safeguard their portfolio and avoid unpleasant surprises once the new Belgium crypto tax rules take effect.

1. CPC and DAC8: The End of Crypto Anonymity

From 2026, the Belgian tax authorities will gain direct visibility into the crypto portfolios of Belgian taxpayers. Under the new EU DAC8 directive, all custodial crypto service providers – such as Coinbase, Kraken, Binance, Crypto.com, Swissborg and Bitvavo – will be obliged to systematically collect information about their customers and transmit it periodically to the Belgian tax administration. This data will include identity details, wallet addresses and transaction history. The first reports are expected in 2027 and will cover the 2026 tax year.

The scope of this obligation should not be underestimated. For years, crypto anonymity was considered a given. From 2026 onwards, that veil will be lifted. With relatively simple checks, the Belgian tax authorities will be able to verify whether a taxpayer has correctly declared their foreign crypto accounts and whether realized gains have been properly included in their annual crypto tax declaration.

In addition, the Belgian legislator imposes a national requirement through the Central Point of Contact (CPC) of the National Bank of Belgium. Until recently, it was unclear whether crypto accounts fell under this obligation. The Minister of Finance suggested several times that this was the case, but many taxpayers and advisors doubted whether the legal basis was sufficient. The commentary to the new Belgian capital gains tax law on crypto now makes it explicit: crypto accounts must also be reported to the CPC.

It is important to note that DAC8 only applies to custodial providers. Pure non-custodial wallets are not directly covered. However, this does not mean such transactions remain invisible. As soon as crypto is transferred to or from a custodial exchange, that movement will be recorded and reported. In practice, complete invisibility is almost impossible, especially if you ever intend to cash out crypto into euros and transfer funds to a bank account.

The combination of mandatory reporting and international data exchange creates a completely new landscape. Failure to declare crypto gains no longer just carries the risk of tax penalties, but may also trigger additional scrutiny from banks. Belgian banks are subject to strict anti-money laundering rules and are required to report suspicions to the Financial Intelligence Processing Unit (CFI). Without airtight documentation proving the origin of crypto funds, moving money back into the traditional financial system can quickly become problematic.

The message is clear: crypto will become an easy target for tax audits in Belgium. If your custodial account is not reported to the CPC, but your name still appears in the DAC8 data provided by an exchange, it is very likely that the Belgian tax administration will send you a request for clarification.

Our advice is straightforward: declare your custodial wallets to the CPC as soon as possible. Think of major platforms such as Coinbase, Kraken, Binance, Crypto.com, Swissborg and Bitvavo. This proactive step can help you avoid fines, investigations and potential banking issues once the new Belgium crypto tax rules 2026 come into force.

2. Correcting Past Crypto Tax Issues Through Regularization

The combination of DAC8 reporting and the obligation to declare crypto accounts to the Central Point of Contact (CPC) means that, from 2026, the Belgian tax authorities will see whether significant crypto holdings are linked to your name. Once such information appears in the reporting, it is inevitable that the administration will issue requests for information. You will then need to demonstrate that these funds were correctly declared in the past.

It is far better not to wait until the tax authorities start asking questions. By proactively addressing past tax issues, you avoid being caught in a control scenario where the burden of proof and pressure are entirely on your side. Especially for substantial crypto portfolios, a thorough analysis of your historical transactions – if not already done – is always a wise first step.

This is also crucial if you ever want to move crypto funds back into the traditional banking system. Belgian banks apply strict anti-money laundering (AML) rules and will refuse to accept funds if their origin cannot be convincingly demonstrated. Without a clear tax-compliant dossier, you risk blocked transactions or even a report to the Financial Intelligence Processing Unit (CFI).

There are several ways to set the record straight. In some cases, this can be done through a spontaneous correction in your tax return or by being transparent during an ongoing audit. In other cases, a formal tax regularization procedure may be advisable. This process allows you to settle past irregularities by paying a regularization levy and obtain a clean slate. The most suitable approach depends on the size of the portfolio, the age of the transactions, and the risk of tax or even criminal proceedings.

3. Reference Date 31 December 2025: Crucial for Crypto Held as Private Wealth

The new Belgian crypto capital gains tax makes 31 December 2025 an absolute key date – but only for crypto considered part of the normal management of private wealth. For that portion of your portfolio, the market value on 31 December 2025 will become the starting point for future taxation.

From 1 January 2026, realized gains will be calculated relative to this reference date, regardless of the original purchase price. Everything built up before that date remains outside the new tax. However, if the Belgian tax authorities classify transactions as speculative or professional, this favorable treatment does not apply, and the old rules with a 33% tax rate continue to apply.

In theory, this seems straightforward. In practice, it is a source of uncertainty and potential disputes. Consider an example with Bitcoin: suppose the value on 31 December 2025 is €100,000. If the price falls to €50,000 in 2026 and you later sell, it becomes crucial to prove that you already held the Bitcoin on 31 December 2025. Without solid proof, the tax authorities could claim the acquisition happened later, using the lower value as a starting point. The result: a significant taxable gain is allocated to you, even though the coin had been in your portfolio for much longer.

This is where the real challenge lies. It is currently unclear what type of evidence the Belgian tax authorities will accept to prove ownership on the reference date. A simple screenshot is weak, as it is easily manipulated. Export files from exchanges carry more weight but are still internally generated. Blockchain transactions and wallet addresses can be stronger, but you must be able to prove that the addresses actually belong to you. For custodial wallets, the risk is even greater: by definition, they do not provide third-party documentation that can independently verify transactions or values. As a result, the tax authorities may demand stricter evidence to prove crypto ownership on 31 December 2025.

Because of this uncertainty, we are already receiving requests from clients who want their portfolios formally documented. For significant holdings, it may indeed be advisable to engage a bailiff (gerechtsdeurwaarder). On or around 31 December 2025, the bailiff can draw up an official report confirming which crypto assets you own and their value at that moment. This independent certification provides strong evidence against the tax authorities and reassurance when banks or regulators later ask questions.

For smaller portfolios, a combination of methods may suffice: keeping exchange export files, preserving timestamped screenshots, or even temporarily transferring crypto to a centralized exchange to unambiguously demonstrate ownership. We are fully aware that such steps involve administrative hassle and additional fees, but in some cases, they may be the only way to provide convincing proof. For larger portfolios, however, formal certification through a bailiff remains the safest solution.

4. FIFO Method and Software for Accurate Crypto Tax Reporting

Up to now, we have mainly looked at how to prepare for Belgium’s new crypto capital gains tax. But once the system takes effect on 1 January 2026, the practical question arises: how can crypto investors correctly calculate and report their taxable gains?

Unlike with bank accounts, there will be no automatic tax statement for crypto. With exchanges and custodial wallets, the responsibility lies entirely with the investor. Each individual will have to calculate their own gains and report them in their annual tax return. Under the new rules, the FIFO method (“first in, first out”) applies. This means that the assets acquired first are deemed to be the first ones sold.

In practice, this is far from straightforward. For an investor who follows a DCA strategy (regular small purchases) and occasionally sells at market peaks or buys dips, keeping track manually becomes complex. It is possible to use an Excel sheet to record each purchase with its amount and quantity and then apply FIFO at each sale. However, this requires discipline, involves heavy calculations, and the risk of errors is significant.

That is why we typically use specialized crypto tax software. In practice, we work mainly with three platforms: Koinly, CryptoTaxCalculator, and CoinTracking. These tools can automatically import transactions from exchanges and wallets, apply FIFO, and generate tax reports. Each has its own strengths: CoinTracking is highly effective for spot trades and classic buy-and-sell activity, Koinly works particularly well for leverage trades and derivatives, and CryptoTaxCalculator excels in handling on-chain transactions and DeFi activity. Still, a caveat applies: no software is flawless. Depending on the exchanges used and the complexity of the portfolio, transactions may be misread or misclassified. Manual review and correction remain essential.

There are, of course, many other solutions available. In French-speaking Belgium, for example, Waltio is a commonly used application. We currently have less experience with it but closely follow its development. For investors already using it or another software, we are happy to integrate its reports into a broader compliance strategy.

Another major advantage of these tools is their ability to handle crypto-to-crypto swaps. Many investors overlook that such swaps are taxable events, since exchanging one token for another counts as a disposal followed by a reinvestment. Calculating this manually is nearly impossible, as each swap requires determining the euro value of both the disposed and acquired coins at the exact transaction time. The software solves this by pulling live market data from CoinGecko or CoinMarketCap, automatically computing the taxable gain and integrating it into the report. This ensures consistency and accuracy that an Excel sheet can hardly match.

Most of these platforms are paid services. As a law firm, we have access to professional subscriptions that are generally more cost-efficient. Investors can contact us to open an account through our channels, even without requesting broader advisory services. We also help assess which software and which exchange best fit a given investment profile.

Still, it remains software, and mistakes can occur. That is why results must always be checked, rather than blindly accepted. Typically, the programs generate an annual report comparable to the overview statements provided by banks, listing all gains and losses. With some adjustments, these reports can serve as the basis for filing the Belgian tax return.

Our experience shows that once investors get familiar with the software and regularly review their transaction history, they are often fully capable of completing their own tax returns without the help of an accountant or lawyer. Nevertheless, we are always available to provide a second opinion or a review of the figures.

In conclusion, for anyone who invests in crypto on a recurring basis (even modestly) the use of specialized crypto tax software will be almost indispensable from 2026 onwards. It keeps the workload manageable, reduces error risks, and produces standardized reports aligned with the expectations of the Belgian tax authorities.

Conclusion and Key Takeaways

The introduction of Belgium’s crypto capital gains tax in 2026 does not mean that all old discussions disappear. The distinction between normal asset management and speculative or professional trading remains crucial. Investors falling under the speculative or professional category will not benefit from the 10% rate but instead face the heavier 33% tax rate or even progressive income tax rates. Parameters such as transaction frequency, use of external financing, portfolio size, and investment strategy will all play a role. The boundaries remain vague, and because investors must now self-report their crypto gains, the debate becomes more important than ever. Simply declaring a capital gain may already be enough for the tax authorities to scrutinize whether the transaction truly qualifies as normal asset management.

Another key point is the relationship with banks. Belgian banks must apply strict AML (anti-money laundering) rules and will only accept crypto funds if the origin can be convincingly proven. Investors who fail to carefully document their files risk blocked transactions or even reports to the Financial Intelligence Processing Unit (CFI). Proper fiscal and administrative documentation is therefore essential not only for the tax authorities but also for access to the traditional financial system.

The broader message of this new framework is clear: more transparency through DAC8 and the Central Point of Contact (CPC), stricter banking practices, and the new layer of taxation all make accurate crypto tax reporting more important than ever. The past must be regularized, the reference date of 31 December 2025 must be convincingly proven, and annual calculations under the FIFO method must be correct. Investors who prepare thoroughly can continue to manage and grow their portfolios with peace of mind.

At Aeacus, we closely follow these developments and assist investors at every stage: from analyzing their past and, where necessary, making use of fiscal regularization, to securing proof of portfolio holdings on the December 31, 2025 reference date, and selecting the right crypto tax software for annual reporting. Preparation is the key to avoiding unpleasant surprises.

If you have further questions about crypto taxation in Belgium, make sure to check our dedicated Crypto Tax FAQ.

Appointment

Christophe Romero Senne Verholle

christophe.romero@aeacus.tax senne.verholle@aeacus.tax