PANews reported on October 24 that according to The Block, the Danish Tax Law Committee recommended in a new report that cryptocurrency assets be taxed at market value, and a legislative proposal will be introduced later. This means that if the rules come into effect, cryptocurrency investors will pay taxes on unrealized cryptocurrency gains or losses.
"So-called mark-to-market taxation is considered capital income and involves ongoing taxation, regardless of whether the crypto asset is sold or not," the committee said. The Tax Law Committee explained that taxation has been a challenge due to the nature of crypto assets, which are "not centrally regulated by entities such as governments or central banks." The committee recommended that new tax regulations should come into effect no earlier than January 1, 2026. In early 2025, the Minister of Taxation plans to introduce a bill that will incorporate the council's recommendations. The bill is expected to include requirements for crypto service providers to report information on their customers' crypto asset transactions.
Mads Eberhardt, senior crypto analyst at Steno Research, wrote on X that the tax rate on unrealized capital gains could reach 42%, which would affect not only cryptocurrencies acquired since then, but also cryptocurrencies acquired since Bitcoin’s genesis block in January 2009.
