Is Crypto Legal in Norway?

Cryptocurrency is legal in Norway, though not recognized as legal tender by the government or Norwegian Central Bank. Norwegian authorities have adopted a predominantly cautious approach towards cryptocurrency, emphasizing stringent regulation and vigilant monitoring to address risks related to money laundering, terrorist financing, consumer protection, and financial stability (1). Approximately 11% of Norwegians owned crypto assets at the time of a 2024 survey, with that number expected to grow significantly in coming years (2).

The Ministry of Finance and Financial Supervisory Authority are the leading regulatory bodies overseeing cryptocurrency activities in Norway. Under current regulations, providers of exchange and custody services for virtual currencies must register with the Financial Supervisory Authority for anti-money laundering purposes, a requirement in place since October 2018 (1). Norway is preparing to implement the EU's Markets in Crypto-Assets Regulation (MiCA), which will establish a comprehensive framework for crypto asset regulation expected to come into force in 2025 (1).

"The approach of Norwegian authorities towards cryptocurrency has been predominantly cautious, emphasising the need for stringent regulation and vigilant monitoring. However, this does not mean that cryptocurrency has no presence in Norway."

Cryptocurrencies are defined as virtual currency under Norwegian law rather than money, described as digital expressions of value not issued by central banks but accepted as means of payment (1). The Norwegian tax system subjects cryptocurrencies to wealth tax and capital income tax, with individuals required to value crypto assets as part of their global net worth and pay 22% tax on gains from disposal (1). A 2024 survey commissioned by the Norwegian Central Bank found that 96% of the Norwegian population aged 16 and over are aware of crypto assets, with Bitcoin being the most recognized cryptocurrency followed by Ether, Dogecoin, and Litecoin (2).

Source:
https://www.globallegalinsights.com/practice-areas/blockchain-cryptocurrency-laws-and-regulations/norway/
https://www.norges-bank.no/en/news-events/publications/Norges-Bank-Papers/2024/memo-2-2024-crypto-assets/web-report-papers-2-2024-crypto-assets/

Last updated: 19-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.