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.
LocalBitcoins’ customers have 12 months to withdraw their cryptocurrencies from the LocalBitcoins wallet but are advised to do so immediately.
LocalBitcoins closes down P2P crypto exchange service
The Nordics remain a cold place for crypto, but Estonia still leads as the public blockchain adopter.
The state of crypto in Northern Europe: Hostile Scandinavia and vibrant Baltics
The Finnish Financial Supervisory Authority published stricter rulings regarding crypto marketing.
Finnish regulators tighten the screw on digital currency marketing
Indonesia saw a massive 1,772% increase in the number of people engaging with articles about crypto, a new survey claims.
Report: Indonesia leads global surge in interest in crypto
LocalBitcoins claims that darknet-related transactions on the platforum dropped 70% after it adopted AML and KYC regulations in September 2019.
LocalBitcoins Says Its Transactions From Darknet Markets Dropped 70%
Russia tops global Bitcoin trading on P2P exchange LocalBitcoins amid local crypto regulation uncertainty.
Updated: Russia Leads Global BTC Trading on LocalBitcoins in 2020
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.
Finnish Customs Puzzled on What to Do With 15M Euro Seized in Bitcoin