The Netherlands has moved forward with a proposal to impose a 36% annual tax on unrealized Bitcoin gains, set to take effect in 2028, pending approval from the Senate. According to NS3.AI, this mark-to-market tax system mandates that investors pay taxes on Bitcoin price changes each year, regardless of whether they have sold their holdings. Experts caution that this could lead to forced liquidations, trigger liquidity crises, and potentially spread contagion risks within the cryptocurrency markets and beyond.

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