Norway sees surge in cryptocurrency tax declarations
Total reported crypto value surpassed US$4 billion, with gains of US$550 million and losses near US$290 million.
Norway’s efforts to improve cryptocurrency tax compliance have led to a significant increase in declarations. More than 73,000 residents reported owning digital assets in their 2024 filings, a 30% rise compared with 2023, according to the Norwegian Tax Administration.
Officials attribute the growth to enforcement measures, educational campaigns, and improved digital reporting systems.
The total reported value of these holdings exceeded US$4 billion, with gains of around US$550 million and losses near US$290 million. Tax director Nina Schanke Funnemark said higher participation reflects the success of recent initiatives and increased taxpayer awareness.
From January 2026, Norwegian crypto service providers, including exchanges and custodians, must share client transaction data under a new third-party reporting regime. The measure aims to close oversight gaps and ensure transparency across the sector.
The 2024 declaration figures contrast sharply with 2019, when only 6,470 individuals reported crypto ownership.
Norway’s sovereign wealth fund holds indirect crypto exposure through investments in companies such as Coinbase, Metaplanet, and Strategy, representing roughly 7,161 Bitcoin. Other countries are boosting crypto oversight, with the UK’s HMRC sending around 65,000 warning letters to suspected non-compliers.
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