Norwegian | Crypto

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.” Read more

Norwegian crypto broker K33 is raising at least 85 million Swedish krona ($8.9 million) through a share issue for its plan to purchase up to 1,000 Bitcoin for its treasury. Norwegian crypto firm K33 said Wednesday it plans to raise a minimum of 85 million Swedish krona ($8.9 million) through a share issue for its plan to purchase up to 1,000 Bitcoin for its company reserves. According to its announcement, K33 has appointed Pareto Securities as its manager and bookrunner for the share issue. The subscription price per share is $0.011. K33 expects to issue at least 820 million shares. “The net proceeds from the Directed Share Issue will be used to buy Bitcoin […] to hold on the balance sheet,” the company said. The move follows K33’s earlier announcement that it secured financing to acquire up to 57 Bitcoin (BTC) in late May. Read more

Norwegian Block Exchange (NBX) became the first publicly listed company in Norway to adopt a Bitcoin (BTC) treasury strategy, according to a press release. The firm announced the acquisition of 6 Bitcoin with plans to increase holdings to 10 BTC by the end of June. The move sent NBX shares soaring more than 138% following […] The post NGX becomes first public Norwegian firm to adopt the Bitcoin standard, stock surges 138% appeared first on CryptoSlate.