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Monday, December 16, 2013

Norway: Bitcoin Isn't Real Money


Norway's director general of taxation, Hans Christian Holte, said the currency "doesn't fall under the usual definition of money." The Norwegian government instead decreed Bitcoin to be an asset upon which capital gains tax can be charged. Bloomberg says profits from Bitcoin will fall under the wealth tax, and that losses can be deducted. Holte also said there will be a 25 percent sales tax for businesses, reports Verge.

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