Is crypto legal in Norway?

“It is not illegal to buy or trade in virtual currency, but providers engaged in exchange and storage are subject to anti-money laundering legislation and must be registered with the Norwegian Financial Supervisory Authority.”

“Providers of services relating to exchange and storage of virtual currency are obliged entities under the Anti-Money Laundering Act and must register with the Register of Business Enterprises and report to Finanstilsynet. Registration is an anti-money laundering measure and does not entail a licence from Finanstilsynet.”

“Norges Bank proposes that certain fiat-referenced crypto-tokens (stablecoins) used for payments should be subject to regulation equivalent to that applicable to electronic money institutions and payment institutions under Norwegian law.”

“Virtual currency, such as bitcoin, is considered an asset for tax purposes. You must pay wealth tax on the value of your virtual currency and tax on any gains you make when you sell or exchange it.”

“Virksomhet i Norge knyttet til kryptoaktiva må ha tillatelse. Finanstilsynet har ikke gitt noen særskilt veiledning om desentralisert finans (DeFi).”

“Non-fungible tokens (NFTs) are regarded as assets for tax purposes. The same tax rules that apply to other virtual currencies also apply to non-fungible tokens (NFTs).”

“Finanstilsynet has issued several warnings against cryptocurrency trading platforms and other providers of services related to virtual currencies that are operating in Norway without the necessary authorisation.”