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Danish Crypto Traders May Face Claims for Back Taxes

Jan. 18, 2019, 2:30 PM

Some cryptocurrency traders in Denmark may be in for a surprise as tax authorities step up scrutiny of their transactions conducted in previous years—they may owe back taxes.

The Danish Tax Authority announced on its website that it had been authorized by the country’s Tax Council to obtain information relating to the trade of bitcoin and other currencies conducted through three exchanges between 2016 and 2018.

Once the Danish Tax Agency has information from platforms, it can make tax demands on traders. This leaves traders with the options of then arguing whether their purchases and subsequent losses or gains ...

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