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Dutch nominee to oversee crypto tax quits over CV scandal

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Dutch nominee to oversee crypto tax quits over CV scandal

The prospective nominee for the Netherlands Secretary of Finance, who would’ve overseen the newly approved 36% tax on unrealised crypto gains, has stepped down after lying about her CV’s credentials.

Democrats 66 (D66) member Nathalie van Berkel announced yesterday that she would withdraw her bid to become Secretary of Finance, and today resigned as a member of the House of Representatives, after the news outlet De Volkskrant discovered multiple discrepancies in her resume.

She claimed to have a master’s degree in public administration from Leiden University, to have studied law at Erasmus University, and that she had completed her higher professional education. 

De Volkskrant questioned her credentials, and over the course of a week, she reportedly changed her CV three times, with each revision lowering the quality of her educational background.  

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They discovered that Van Berkel had only applied for a master’s and that she hadn’t completed the admission program for students applying without the right qualifications. 

Van Berkel also never finished her first year at Erasmus, and she only has a secondary school diploma and a first-year diploma for a bachelor’s degree in public administration.

Nathalie van Berkel regrets CV mistakes

Van Berkel was the prospective candidate for the coalition government’s upcoming Secretary of Finance cabinet role and was penciled in to start on February 23. She represented the D66 party and was part of the current coalition government alongside the Christian Democrats and the People’s Party for Freedom and Democracy. 

In her withdrawal (translated from Dutch), she claims, “It was never my intention to misrepresent my CV. I regret that this impression has been created.”

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Read more: Crypto traders in the UK will have data handed to taxman from 2026

“I would have loved to use my knowledge and experience to contribute to a government that works better for people,” she said, adding that her educational background has become a distraction “from the important tasks facing this cabinet. I regret that.”

She previously told De Volkskrant that her CV was “to the best of her knowledge, based on her memory.” D66 reportedly claimed that Van Berkel was transparent “that she did not complete her education” when speaking to the party’s integrity committee. 

Netherlands to implement 36% on unrealised crypto gains

Last Thursday, the Netherlands’ House of Representatives approved the “Actual Return in Box 3 Act” that introduces new tax regulations drafted up by the coalition government, which has left crypto holders worked up. 

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The law seeks to tax unrealized capital gains annually on stocks, bonds, and cryptocurrencies. This means that, if your invested asset goes up in price and you choose not to sell, you will still have to pay tax on that asset’s increase in price. 

The new law was required after the Netherlands’ supreme court ruled in 2024 that the old system, which instead assumed the taxes due on capital gains, was discriminatory and had overtaxed citizens. 

Read more: Does Ross Ulbricht owe back taxes on crypto donations?

Politicians at the time estimated this would cost the state €4 billion ($4.7 billion) to repay what was owed.

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The new regulations are scheduled to come into effect in 2028. There is also pressure from the majority in the Netherlands House of Representatives to remove the unrealised capital gains tax by 2028.

Protos has reached out to Dutch tax firms for comment on the new tax regulations and will update this piece should we hear anything back. 

Update February 17, 15:29 UTC: Included Van Berkel’s resignation as a member of the House of Representatives.

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Bitcoin Stalls at a Critical Stress Zone as On-Chain Data Warns the Bottom May Not Be In Yet

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Bitcoin Stalls at a Critical Stress Zone as On-Chain Data Warns the Bottom May Not Be In Yet


Bitcoin’s price action is hovering near a level where weaker holders exit and stronger hands begin accumulating historically.

Bitcoin has remained rangebound between $60,000 and $70,000, as choppy trading continued to reflect fears of a further downside move. Fresh data highlights risk building near Short-Term Holder Realized Price bands.

These areas have historically witnessed the start of accumulation and emerging opportunities for global market participants.

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High-Risk, High-Opportunity Zone

According to Alphractal, Bitcoin is currently trading within a tight range defined by the Short-Term Holder Realized Price, and its price action is trapped between key support and resistance levels. In recent weeks, BTC has closely respected the -1σ and -1.5σ deviation bands.

Previous instances reveal that when the crypto asset breaks below the lower blue deviation band, the market typically sees one of two outcomes. Either the formation of a local bottom or a deeper capitulation phase, followed by accumulation. These deviation bands have consistently acted as natural support and resistance across multiple market cycles. To top that, the -1.5σ level has repeatedly represented periods of maximum stress, where selling pressure from short-term holders intensifies, and longer-term participants begin accumulating.

Against this backdrop of high short-term holder stress, Alphractal founder Joao Wedson pointed to a longer-term metric that may indicate the market is not yet at a historical turning point. The Net Unrealized Profit/Loss (NUPL) metric for long-term holders, which tracks whether the most resilient investors are sitting on unrealized gains or losses, currently stands at 0.36, which means that long-term holders remain in profit despite recent volatility.

Upon looking at past cycles, Wedson found that the clearest late bear-market signal tends to emerge only when this metric turns negative, a condition associated with extreme pessimism and seller exhaustion. Such phases have marked the end of bear markets, rather than the start of a new bull cycle.

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Miners Reduce Exchange Exposure

As Bitcoin trades near crucial stress levels, further on-chain data shows miners adjusting their positioning amid ongoing market pressure. Data shared by CryptoQuant depicts a significant change in miner behavior as more than 36,000 Bitcoin were withdrawn from exchanges since the beginning of February.

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The pace of withdrawals has accelerated compared to previous months, which points to changes in holding strategies or liquidity management. Of this total, over 12,000 BTC were withdrawn from Binance, while more than 24,000 BTC were spread across other exchanges, indicating that it’s not an isolated activity. Such movements are typically associated with transfers to long-term storage, as miners move assets off exchanges into cold wallets, and reduce immediate sell-side supply.

Daily withdrawals peaked above 6,000 BTC, the highest level since November, and significantly exceeded January levels. This means that miners may be repositioning against the backdrop of the current market uncertainty.

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$202 Million Solana Selling Sparks First Capitulation Since 2022

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Solana Balance On Exchanges

Solana remains under sustained pressure as broader market conditions deteriorate. SOL has extended its downtrend for several weeks, reflecting reduced investor confidence. 

Recent on-chain data reveals a surge in exchange-directed supply. Roughly $202 million worth of SOL has moved to trading platforms since the beginning of the month. This wave of selling has intensified bearish momentum and revived capitulation signals not observed since 2022.

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Solana Holders Are Selling

Active deposits on the Solana network have started declining after a sharp rise earlier this month. This metric tracks tokens transferred to exchanges, often signaling intent to sell.

Despite moderating deposit flows, exchange balances continue to reflect elevated supply. Over the past 17 days, exchange wallets have added 2.35 million SOL. At current prices, this increase equates to approximately $202 million in additional sell-side liquidity.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

Solana Balance On Exchanges
Solana Balance On Exchanges. Source: Glassnode

Rising exchange reserves generally amplify downward pressure. Larger balances make it easier for traders to execute sell orders. However, this influx has also triggered a historical capitulation signal. Similar spikes in exchange supply previously aligned with late-stage bear market conditions.

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The MVRV Pricing Bands provide critical valuation context. Solana’s price is currently trading below the Extreme Lows deviation band. For this classification, the Market Value to Realized Value ratio must stay below 0.8 for roughly 5% of trading days.

SOL has remained beneath that threshold for 26% of recent sessions. This confirms a prolonged undervaluation phase. The only comparable event occurred in May 2022. Following that period, Solana remained depressed for 17 months before staging a meaningful recovery.

Solana MVRV Pricing Bands.
Solana MVRV Pricing Bands. Source: Glassnode

SOL Price Downtrend Continues

Solana is trading at $86 at the time of writing. The token remains capped below the $90 resistance while holding above the $81 support zone. A move above $90 would intersect the prevailing downtrend line, signaling potential technical improvement.

However, current data suggests downside risk persists. Continued exchange inflows and weak macro momentum could pressure SOL further. A decisive break below $81 may expose the next support near $67, extending the drawdown.

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Solana Price Analysis.
Solana Price Analysis. Source: TradingView

Alternatively, reclaiming $90 would shift short-term sentiment. A breakout above the descending trendline could attract renewed capital inflows. If momentum strengthens, SOL may rally toward $105 and potentially higher, invalidating the prevailing bearish thesis.

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Kraken Integrates OTC Desk with ICE Chat for Institutions

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Kraken Integrates OTC Desk with ICE Chat for Institutions

US-based crypto exchange Kraken has integrated its over-the-counter desk with Intercontinental Exchange’s ICE Chat, enabling institutional traders to access Kraken’s crypto liquidity directly through a messaging platform widely used across global financial markets.

ICE Chat connects more than 120,000 market participants, including banks, brokers and trading desks that use the system for real-time deal negotiation and execution. The integration allows those clients to communicate directly with Kraken’s OTC desk within their existing trading workflows.

Kraken said it is the first cryptocurrency platform approved to connect to ICE Chat, placing its crypto liquidity alongside traditional asset classes within established institutional communications infrastructure.