Fin services – retirement planning
Investing in crypto has become increasingly recognized by Dutch financial institutions. However, cryptocurrency is not generally recommended for pension plans and retirement funds due to risk and volatility. The situation is changing all the time.
Fin services – banking
De Nederlandsche Bank NV (DNB), the Dutch central bank, has actively registered a number of companies to provide cryptocurrency services in line with the EU Anti-Money Laundering Directive. Unlike the UK or parts of the US, Dutch banks (Rabobank, ABN AMRO, ING) are generally crypto-friendly for personal accounts, provided the source of funds is clear.
For a full breakdown of individual Dutch bank policies on crypto transfers, see BankToBTC.
Fin Services – Defi
Defi has some way to go in most countries, although the leading Dutch Bank, ING stated that it saw increasing opportunities with regard to digital assets with a keen focus on developing blockchain technology. The bank is already involved in a number of blockchain initiatives.
Using Bitcoin in the Netherlands
Spend
Bitcoin is on the up in The Netherlands and Arnhem is one city that has a reputation for its acceptance of crypto, with one of the highest concentrations of places accepting bitcoin worldwide. The way is open to dentistry (as usual), buying property, holidays, and entertainment. Several world brands accept Bitcoin payments including, most famously, Microsoft and Starbucks. In most cases, it is possible to buy vouchers with your crypto that may then be indirectly used with participating outlets and there is an ever-expanding number of bitcoin ATMs in service.
Gifting crypto
If you’re feeling generous, you can gift crypto but it is subject to a gift tax wherever and however you store or trade your currencies. The Netherlands levies gift and inheritance tax on assets gifted by or inherited from individuals resident in The Netherlands, but you can gift to a recognized charity or non-profit organization and most Netherlands crypto exchanges will be able to advise on gifting your coins.