I noticed an interesting trend in February—tax policy on cryptocurrencies became a hot topic across several countries at once. Bitcoin still couldn’t break the $70,000 mark during that time, and the price has now risen to $77.8K, but regulatory debates have remained tense.

The Netherlands took the most radical approach—proposing a 36% tax on unrealized profits from cryptocurrencies. This sparked a wave of criticism because it could trigger capital outflows. Interestingly, the cabinet itself has already hinted at a possible review of this measure.

In Israel, however, the approach is completely different. There, the crypto industry is actively lobbying for more lenient conditions for stablecoins and tokenization. The forum head noted that more than a quarter of the population has already participated in crypto transactions over the past five years—an important argument for policymakers.

Hong Kong is joining the global trend—rolling out CARF standards to improve transparency and oversight of crypto assets. This is an alignment with international requirements.

Vietnam proposed a targeted tax—0.1% on transfers made through licensed providers. The approach is more balanced than in other jurisdictions.

Meanwhile, the situation with bitcoin tax in India remains strict. A 30% tax on profits without any ability to offset losses is one of the harshest systems in the region. Market participants had expected reforms in the 2026 budget, but they didn’t receive them. This is a serious signal to investors, especially considering that India is the second-largest cryptocurrency market in Asia by level of adoption.

Against the backdrop of all these policy moves, bitcoin remained under pressure from macro factors. In the United States, there’s been no progress on the CLARITY bill; tariff uncertainty is weighing on risk sentiment. Analysts pointed specifically to tariffs as the main factor affecting the price.

What’s next? You’ll need to watch the parliamentary debates in the Netherlands, the regulatory proposals in Israel, the CARF rollout schedule in Hong Kong, and, of course, any updates on bitcoin tax policy in India. These decisions could significantly affect regional capital flows and the global perception of risks in crypto markets.