The global crypto and taxes policy moves in February are quite interesting. With Bitcoin staying below $70k, multiple countries have rolled out crypto taxation approaches at the same time. Rather than the kind of vague handling seen before, the tax system design is moving in much more concrete directions.

First stands out the Netherlands. On February 12, the House of Representatives passed a 36% tax on unrealized gains. The bold measure taxes savings, liquidity investments, and crypto unrealized profits every year. Because it’s an unprecedented level of strictness, there is naturally strong pushback as well. Due to concerns about capital outflows and a slowdown in innovation, the cabinet itself is considering a review of the plan. In other words, the policy hasn’t been finalized, and it could change depending on how future parliamentary actions unfold.

Israel, by contrast, is taking the opposite approach. Forums related to crypto asset blockchain have started lobbying and are calling for simplifying the crypto and taxes framework. What representative Neil Hirschman-Lub points out is the reality that more than one quarter of the population is already participating in crypto asset trading. That is, adoption is progressing at the level of ordinary citizens, so regulations need to be realistic. By easing regulations on stablecoins and tokenization and simplifying compliance requirements, they are trying to strike a balance between innovation and tax transparency.

Hong Kong is aligning itself with international standards. It is looking to adjust its tax system in line with the OECD’s CARF (Crypto-Asset Reporting Framework). As a result, reporting rules for crypto asset transactions will expand and tax authorities will gain better visibility. At first glance, it may look like tighter regulation, but in fact it’s part of a broader global trend toward preventing tax evasion worldwide and unifying tax compliance. You could describe it as a process in which crypto and taxes transparency is being standardized across borders.

Vietnam has put forward its own strategy. It imposes a 0.1% personal income tax on transfers through authorized service providers, while exempting standard value-added tax—an essentially two-layer structure. In other words, it is targeted taxation aimed at on-chain transactions, designed to respond to a rapidly growing market. This flexibility shows the diversity of crypto and taxes policies across Asia.

India’s position remains rigid. Its policy is to tax profits at about 30%, and it does not allow loss carryforwards. Even in the 2026 federal budget, calls for reform were ignored. This has continued to draw criticism from investors. As Asia’s second-largest crypto asset market, India’s hardline stance is likely to affect regional capital flows and investor sentiment.

On the market side, Bitcoin’s price in February failed to rise above $70k. As of now, it has recovered to about $78.24K, but at the time macro factors and regulatory uncertainty were weighing on it. The U.S. CLARITY bill has not made progress, and uncertainty around tariff policy also piled on the pressure. A cautious mood spread among traders.

What’s interesting is that the expansion of crypto ATMs is continuing. According to Coin ATM Radar data, the number of kiosks worldwide is nearing 40,000, with about 290 added just in February. In other words, even amid policy confusion, entry points are still expanding. There is a temperature difference between policy and what’s happening on the ground.

What should be closely watched going forward is each country’s implementation schedule. The Netherlands will follow the cabinet’s review results; Israel will move toward concrete stablecoin regulation; Hong Kong’s timeline for CARF implementation; Vietnam’s route for applying the 0.1% tax; and India’s potential reforms in the next budget cycle. Progress on the U.S. CLARITY bill will also significantly influence market sentiment. The globalization of crypto and taxes is an unavoidable trend, but how the differing “policy temperatures” among countries will converge is likely to determine the direction of the market in the future.