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Author: Admin | 2025-04-27
Its rules. With the new rules, wide and general exemptions have been granted from the restrictions of the Foreign Exchange Act No. 87/1992 LegalBank of Lithuania released a warning on 31 January 2014, that bitcoin is not recognized as legal tender in Lithuania and that bitcoin users should be aware of high risks that come with the usage of it. LegalThe Norwegian Tax Administration stated in December 2013 that they don’t define bitcoin as money but regard it as an asset. Profits are subjected to wealth tax. In business, use of bitcoin falls under the regulation.The Norwegian government stated in February 2017 that they would not levy VAT on the purchase or sale of bitcoin. LegalAs of November 2016 declared, bitcoins are “not illegal” according to the Federal Tax Service of Russia. In September 2017 Russia central bank head Elvira Nabiullina has said it is categorically against regulating cryptocurrencies as money, as a means by which payment can be made for goods and services, and against equating them with foreign currency. Deputy Finance Minister of the Russian Federation Alexei Moiseev at the same time said it’s “probably illegal” to accept cryptocurrencies payments. LegalThe Swedish Tax Agency has given a preliminary ruling on Value Added Tax (VAT) on bitcoins, stating that trade in bitcoins is not subject to Swedish VAT, but is instead subject to the Finansinspektionen (Financial Supervisory Authority) regulations and treated as a currency. The decision has been appealed by the Swedish Tax Authority.The Swedish jurisdiction is in general
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