Sharp Rise in Reported Crypto Holdings

Norway’s tax agency has revealed that more than 73,000 taxpayers declared ownership of digital assets in their 2024 tax returns, reflecting a roughly 30 percent increase compared with the prior year.

he total reported crypto holdings exceeded $4 billion, including declared gains of about $550 million and losses near $290 million.

Drivers of the Increase

Authorities attribute the surge to stronger enforcement measures, enhanced public awareness campaigns and upgrades to digital tax-reporting systems.

New regulations requiring crypto-service providers to share transaction data will begin in 2026, and this expectation has already encouraged greater compliance.

Tax officials say the increase in reporting reflects that more individuals are acknowledging their digital-asset ownership and meeting their obligations.

Why It Matters for Crypto Investors

The jump signals that national tax systems are becoming more effective at tracking digital-asset activity.

For crypto holders in Norway and similar jurisdictions it means that past lax reporting environments are giving way to systematic oversight.

nvestors who have traded or held crypto assets may face growing pressure to review their tax filings and ensure proper disclosure.

Implications for the Market

From a broader viewpoint, the rise in accurate reporting may reduce uncertainty around hidden taxable crypto-wealth.

One immediate effect is that a large pool of unreported holdings may gradually shrink, reinforcing transparency in the industry.

It also sets a precedent: countries are moving toward full-scale crypto data reporting by 2026, which could affect global investor behaviour.

Outlook

Norway’s experience could serve as a model for other jurisdictions aiming to close the loop on digital-asset taxation.

As crypto becomes more mainstream, systems will increasingly treat tokens like traditional financial assets - subject to rules, reporting and audits.

For now, more than 70,000 new declarations mark a milestone in how the tax system and crypto industry interact in Norway.