Norway has seen a large increase in cryptocurrency tax declarations following improvements to tax compliance for the digital currency.

According to the Norwegian Tax Administration, Norway saw a 30% rise in reporting owned digital assets in 2024 compared to 2023. Authorities state that this growth is due to enforced measures, educational campaigns, and improvements to digital reporting systems.

The combined declared value of these assets surpassed US$4 billion, including approximately US$550 million in gains and about US$290 million in losses. According to Tax Director Nina Schanke Funnemark, the rise in participation demonstrates both the effectiveness of recent initiatives and a growing awareness among taxpayers.

Beginning in January 2026, cryptocurrency exchanges, custodians, and other service providers operating in Norway will be required to submit client transaction data under a new third-party reporting framework. The initiative is intended to enhance oversight and improve transparency within the crypto industry.

The 2024 disclosure figures represent a sharp increase compared to 2019, when just 6,470 individuals reported holding digital assets.