According to Norwegian authorities, more than 73,000 people in the country reported about $4 billion in crypto holdings for the 2024 tax year.
The Norwegian Tax Administration said that more people declared cryptocurrency holdings in 2024 compared to the previous year, following efforts to increase reporting.
In a Tuesday notice, Norway’s tax authority said more than 73,000 people in the country reported owning some form of cryptocurrency in their 2024 returns. The numbers marked about a 30% increase year-over-year from crypto holdings in 2023, and significantly more than in 2019, when only 6,470 people in the country of 5.5 million people declared having digital assets.
“It is gratifying that more people are reporting that they own cryptocurrency, and in this way ensuring that the tax is correct,” said tax director Nina Schanke Funnemark. “We have taken several measures in recent years to increase this number, and we see that these measures are having an effect.”
