The Netherlands is moving forward with plans to tax unrealized gains on stocks, bonds, and cryptocurrencies as part of a reform to the Box 3 wealth tax regime. This proposal aims to levy annual taxes on paper profits, even if assets have not been sold, to address fiscal pressures and court rulings challenging the current system. The reform has garnered broad political support, with lawmakers arguing it is necessary to stabilize public finances. The proposed changes would replace the existing Box 3 approach, which has been criticized for relying on assumed returns. The plan includes favorable treatment for real estate investors, allowing deductions and taxing profits upon realization, while imposing extra levies on second homes. Critics, particularly from the crypto community, warn that taxing unrealized gains could lead to capital flight and reduce the Netherlands' competitiveness as a crypto hub. The debate continues as the government seeks to balance revenue needs with maintaining the country's appeal to investors.