Sweden Outlines New Bitcoin Tax Regulations and Bitcoin Ban
Many nations have made news with how they are choosing to accept, or not accept, bitcoin into their national economies. Some have chosen to ban outright the currency while others see it as an opportunity for domestic economic growth & as a tax revenue stream for the nation-state. Sweden has recently instituted new regulations that at least show it is not going to be banned anytime soon. Or will it? Sweden Creates Bitcoin Mining Tax Regulations. In the country of Sweden, how they tax your income can be done in three different ways, depending upon its category of origin. You can be taxed on....
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Sveriges Riksbank, Sweden's central bank, has published a brief economic commentary on the impact of digital currencies on the retail payments market. The document outlines the basics behind digital currencies and focuses on bitcoin, but it also mentions some altcoins such as litecoin and dogecoin. Aside from a relatively basic introduction to digital currencies and background information for novices, the document also sheds light on the state of bitcoin in Sweden and the bank's attitude towards bitcoin and other cryptocurrencies. Take-up remains limited. The Sveriges Riksbank report found....
Sweden could soon be a big advocate of bitcoin. Sweden: The Potential Bitcoin Economy. In what could easily be the biggest “opening” for digital currency, Sweden is looking to swear off fiat money for good. That means no more paper money, no more coins, virtual means from here on out. This is exactly what Bitcoin and its creators have wanted all along for every country. Bitcoin can aid nations, particularly unbanked ones, and put financial power back in the hands of the people, and now it looks as if Sweden is taking the hint and doing everything bitcoin has wanted for the world. What’s....
It turns out that there is more to Sweden than fjords, Volvo and smorgasbord. By 2030, Sweden could become the first country in the world to become a truly cashless society. Today, 80% of all transactions in Sweden are done electronically, or by debit card. Also read "Sweden and Norway to Bitcoin VAT - Norway to Implement Bitcoin Tax". Bengt Nilervall at the Swedish Federation of Trade, or Svensk Handel says that Sweden and the rest of Scandinavia lead the world in terms of cashless trading. Swedes on average perform an average of 260 transactions each year using their debit and credit....
Sweden's central bank has begun to study the feasibility of moving the country to a digital currency.
Swedish bank Skandinaviska Enskilda Banken AB (SEB) sponsored an article in Swedish daily Svenska Dagbladet about Bitcoin. The article takes a cautious look at Bitcoin, including its strengths and weaknesses. One concern the bank has in terms of Bitcoin's long-term appeal is its ability to fall under the purview of global regulations, while acknowledging the breakthrough that it is in payments. SEB, a Swedish financial group for corporate customers, institutions and private individuals headquartered in Stockholm, Sweden, was founded and remains controlled by the Swedish Wallenberg family.....