The hunt and scrutiny over crypto profits seems to have been opened by the De Wever I government

With the arrival of the De Wever I government, the focus of taxation seems to be more than ever on tracking and taxing digital assets such as cryptocurrencies. The federal coalition agreement and the preliminary draft program law contain numerous measures that indicate that crypto profits can no longer remain undetected. The combination of increased monitoring capacity, data mining, data sharing, and new legislative frameworks creates an environment in which tax loopholes for crypto are gradually disappearing. Here is an overview of the most important initiatives and their impact on crypto investors.

1. Mandatory declaration of crypto accounts and capital gains

The coalition agreement explicitly confirms the mandatory reporting of crypto accounts to the Central Contact Point (CCP or CAP) . Although this requirement has been in place for some time, this statement could indicate that the government will be monitoring this more closely. Combined with the upcoming international data exchange via DAC8 and the MiCAR regulations, this suspicion is reinforced.

With DAC8 and MiCAR, Belgium gains access to data on crypto accounts and transactions, including those held by foreign platforms. They state that they want to automatically include this foreign information in the CAP . This makes it more difficult for investors to keep crypto assets out of the tax authorities' sight, opening the door to more targeted inspections and sanctions for undeclared crypto transactions.

2. Increased control and data mining: crypto owners under the radar

The government will focus heavily on data mining and risk detection . By investing heavily in IT resources and digital tools, it will be possible to automatically detect suspicious transactions. Importantly, crypto transactions will also be included in this system. Thanks to data from the CAP and foreign information exchanges, "risks" can be detected and monitored more quickly.

In addition, a legal framework is being created for anonymous data mining related to tax records. This could mean that taxpayers managing large amounts of crypto will be identified and audited more quickly. Furthermore, it states: "Moreover, the government will include in the CAP financial data of foreign origin already automatically received by the administration, as well as online gambling accounts exceeding €10,000. Other information will also be integrated within the CAP to the maximum extent possible to allow data mining."

Access to the CAP will also be simplified. Tax authorities will be able to consult the CAP directly in the event of sufficient and precise indications of fraud or an indicative deficit. In other words, it will be easier for tax inspectors to determine who has a crypto account and who doesn't, and then audit them.

3. Increased control capacity and multidisciplinary collaboration

The government is investing in a significant expansion of its inspection capacity, with the recruitment of 300 additional staff members to combat tax fraud. These inspectors will be deployed, among other things, at the Special Tax Inspectorate (BBI) and, thanks to new data analysis tools, will be able to conduct more targeted inspections.

Cooperation between the tax authorities, the police, and other inspection services is also being strengthened. Multidisciplinary investigation teams can, for example, engage the Financial Intelligence Processing Unit and the judicial police to identify suspicious money flows, which could also include cryptocurrencies.

4. Bank investigation procedure: focus on financial transparency

The government is exploring the possibility of extending the bank investigation procedure To reform and reduce administrative burdens. But more importantly, as previously mentioned, it simplifies access to the CAP. When there are sufficient indications of tax fraud, the tax authorities can more quickly access bank details and other financial data.

This measure could have far-reaching consequences for crypto holders, especially if transactions between bank accounts and crypto platforms are monitored. The government wants to ensure that any suspicious activity is quickly identified and investigated.

5. Taxation of capital gains and relaxation of procedures

While bona fide taxpayers will be less likely to face penalties, it's clear that capital gains on crypto assets will no longer be ignored. The tax authorities will have more leeway to collect taxes on capital gains.

The existing 33 percent rate for speculative investments will remain in place, meaning that those who sell crypto assets outside of normal asset management could face a significant tax burden.

Crypto owners are therefore obligated to declare their profits correctly. That's like milking the cat. It remains to be seen to what extent the tax authorities will refrain from conducting targeted checks on tax returns reporting crypto profits, questioning whether this truly constitutes normal private asset management. This threatens to open a new Pandora's box.

Entry into force: December 31, 2026?

The final agreement confirms that the legislation will not take effect until December 31, 2026. This means that crypto platforms, banks, and other financial intermediaries must align their systems and reporting obligations with the new legislation before that date. This leaves companies and investors with little time to adapt to the stricter reporting requirements. This is especially true given that effective legal texts are not yet available.

Final thoughts: What does this mean for crypto investors?

It seems clear that the De Wever I government is determined to increase tax controls. Crypto profits have long been a thorn in the government's side and will likely be subject to stricter scrutiny. Mandatory tax returns, data mining, international data exchange, and increased audit capacity will make it more difficult to keep crypto profits out of the tax authorities' reach. This is because crypto profits must now be declared in any case. For investors, this means it will become essential to meet their tax obligations and correctly declare their profits from crypto transactions.

The era of crypto as a gray area seems to be definitively over. The Belgian tax authorities have the tools and legislation to open the hunt for tax-free crypto profits—and will likely make full use of it. Investors would be wise to proactively evaluate their tax position and prepare for increased scrutiny.

If you have any questions about your crypto portfolio and the potential consequences of the new government, please feel free to contact us for an initial meeting.

If you have any other questions about crypto, be sure to check out our Frequently Asked Questions (FAQ)

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Christophe Romero Senne Verholle

christophe.romero@aeacus.be senne.verholle@aeacus.be