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$550.52 0.27363
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Ethereum
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$3,075.67 0.41665
Ethereum price
BNB
BNB (BNB)
$550.52 0.27363
BNB price
Solana
Solana (SOL)
$136.34 -3.2021
Solana price
XRP
XRP (XRP)
$0.4904060 0.55811
XRP price
Shiba Inu
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$0.0000215 0.96471
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000050 -3.20102
Pepe price
Bonk
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$0.0000143 -6.25016
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Bitcoin
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$62,849.00 -1.2703
Bitcoin price
Ethereum
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$3,075.67 0.41665
Ethereum price
BNB
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$550.52 0.27363
BNB price
Solana
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$136.34 -3.2021
Solana price
XRP
XRP (XRP)
$0.4904060 0.55811
XRP price
Shiba Inu
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$0.0000215 0.96471
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000050 -3.20102
Pepe price
Bonk
Bonk (BONK)
$0.0000143 -6.25016
Bonk price
Bitcoin
Bitcoin (BTC)
$62,849.00 -1.2703
Bitcoin price
Ethereum
Ethereum (ETH)
$3,075.67 0.41665
Ethereum price
BNB
BNB (BNB)
$550.52 0.27363
BNB price
Solana
Solana (SOL)
$136.34 -3.2021
Solana price
XRP
XRP (XRP)
$0.4904060 0.55811
XRP price
Shiba Inu
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$0.0000215 0.96471
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000050 -3.20102
Pepe price
Bonk
Bonk (BONK)
$0.0000143 -6.25016
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Denmark’s supreme court rules bitcoin profits are taxable

denmarks-supreme-court-rules-bitcoin-profits-are-taxable
Edited by
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Denmark’s supreme court rules bitcoin profits are taxable

The supreme court of Denmark in a recent judgment ruled that profits obtained from the sale of bitcoin were taxable, with the ruling applying to investors and miners. 

Investors and miners are to be taxed for gains on BTC sale 

The ruling which was given on March 30, 2023, involved two cases where the court tried to determine if bitcoin profit was a taxable event. 

The first case involved a party that got BTC from purchases and donations from a third party. According to the supreme court, the BTC purchase in this instance was considered speculative, adding that the sale was not tax-free according to Denmark’s state tax act. 

In another case, miners who earned bitcoin for validating transactions and securing the network, and later sold the bitcoin at a profit. In both instances, the justices of the supreme court stated that bitcoin sales by both parties would trigger a tax liability. 

Denmark is not one of the known tax havens for the crypto industry. In 2019, Danish authorities sought to collect data from crypto exchanges in order to monitor the trading activities of users and collect necessary taxes. 

Outside of Denmark, more countries have formulated crypto tax laws. In October 2022, Portugal proposed a 28% crypto tax law in its 2023 budget. Ukraine is also working on a crypto tax policy.

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