The panel "EU and Slovenian Crypto Regulation in a Global Perspective" by Tanja Bivic Plankar | Blockchain Alliance Europe, Morana Vukić Perak | Alice in Blockchains, Toni Cepon | Bitcoin Slovenia, Gregor Oprčkal | NAKA, Magnus Jones | Nordic Blockchain Association looked into how countries can learn from each others success and errors.

A question that was raised was if the Nordic countries crypto tax policies could be of inspiration for other countries?

Slovenia has already looked to Sweden for inspiration with regards to their new proposal for crypto tax.

Is this a good thing?

Sweden has capital gains tax. Which many countries have. This is not negative in itself. However, Sweden does not have a symmetric principle in the right to deduct losses as this can only be done by 70%. In addition, if you e.g. lose your keys you will not have a right to deduction. This again can lead to a life long tax obligation if you inherit crypto and you don't have the keys.

The Danish proposal of "lagerskatt" / annual taxation on unrealized gains was also discussed. In this proposal, you will be taxed 42% annually even if you have not liquidated your crypto assets. This is a case Nordic Blockchain Association and its members have advocated against for a long time and still are doing.

As on the positive side, the Norwegian authorities were used as a status example as they not only have a symmetric right to deduction of losses and that you do not have a tax obligation if you can prove that you lost your keys. But most important of all, they have a proactive dialogue with the industry and tax payers. In addition to issuing guidance on a continuous matter. This also includes annual crypto tax summits. All of this leads to clarity.

Clarity is something that the whole industry needs and something that Nordic Blockchain Association are actively advocating through our working groups. We collaborate also outside of the Nordic region on EU and International level and are inviting anyone who advocates industry challenges to join our initiatives and dialogue across borders.

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