News
The Bank of Finland actively promotes the development of new forms of payment.
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Finland News
Finland is a republic located in northern Europe with a population of around five million people. Finland is highly ranked in various human development indexes, economic freedom ratings and has one of the highest gross domestic product per capita in the world. Finland’s economy is built upon the service sector, manufacturing and refining, with largest industries being electronics, machinery and chemical. Finland is also highly developed in information technology and communications. Blockchain is pretty popular in Finland, that’s why the Finnish Tax Authority issued a pack of instructions for virtual currencies’ taxation. The Finland Bitcoin taxation is complex. Bitcoin is treated as a capital gain when transferred to another currency and as a trade when it is used as a payment for goods and services. Bitcoin that has an increased value after it is obtained is also taxable.
- News
Finland and Australia had the highest proportion of tax-paying crypto investors, while the United States ranked 10th on the list, according to the study.
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LocalBitcoins’ customers have 12 months to withdraw their cryptocurrencies from the LocalBitcoins wallet but are advised to do so immediately.
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The Nordics remain a cold place for crypto, but Estonia still leads as the public blockchain adopter.
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The Finnish Financial Supervisory Authority published stricter rulings regarding crypto marketing.
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Indonesia saw a massive 1,772% increase in the number of people engaging with articles about crypto, a new survey claims.
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LocalBitcoins claims that darknet-related transactions on the platforum dropped 70% after it adopted AML and KYC regulations in September 2019.
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Russia tops global Bitcoin trading on P2P exchange LocalBitcoins amid local crypto regulation uncertainty.
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While some countries are selling bitcoins confiscated through law enforcement actions, Finland is in no hurry to decide what to do with its seized BTC.
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Finnish P2P exchange LocalBitcoins is allegedly quietly suspending user accounts, citing an “enhanced due diligence process.”
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Finland is coordinating a simulated Bitcoin ransomware cyberattack on more than 200 Finnish cities and public organizations.
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LocalBitcoins continues its path to full regulation with an official license from the Finnish Financial Services Authority.
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Finland-based P2P crypto exchange LocalBitcoins warned users about alleged security risks associated with Tor Browser.
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Cryptocurrency services firm Prasos has received a payment institution license from a Finnish regulator, allowing it to offer payment services in EEA countries.
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Following reports of the silent removal of local cash trades on June 1, LocalBitcoins has confirmed the move.
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