Bitcoin profits are taxable in certain cases, says Denmark’s supreme court
The country’s supreme court released two decisions for cases in which different crypto users gained profits from sales of BTC “made for the purpose of speculation” and mining. The Justices of the Supreme Court of Denmark have handed down two judgements on whether the sale of Bitcoin (BTC) under certain circumstances qualifies as a taxable event. In a March 30 notice, Denmark’s Supreme Court said a party who gained profits from selling Bitcoin acquired through several purchases and donations was required to report the sale as a taxable event, adding the purchase was “made for the purpose of speculation.” In a separate case, the court ruled a user who mined their own BTC and later sold the coins would be subject to the same tax consideration. Both cases considered by the supreme court involved the acquisition of BTC between 2011 and 2013, with sales between 2017 and 2018, suggesting a price difference in the thousands of dollars. The court cited sections of the country’s National Ta...