Bitcoin Gambling Legal
Bitcoin legality is a complex subject, and many countries have yet to clearly define their stance on bitcoin gambling (or gambling with any cryptocurrency for that matter).
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As with a number of other countries around the world, the only instructions surrounding Bitcoin in Finland are about taxation, with those transferring the currency to another form of currency being obliged to pay capital gains tax. Selling Bitcoins at a loss will not allow the seller to offset the losses in their tax return though. In terms of using the currency for buying goods or services, there are no restrictions placed upon Finnish citizens though. This means that those residing in Finland can use Bitcoin as a form of payment without fear of arrest or prosecution.
The only regulations in place in Norway regarding Bitcoins are those related to tax. The fact that Bitcoin has been classed as capital property in these regulations means that tax must be paid on any amounts won or earned, however Bitcoin losses can also be deducted from a tax return. Also, anyone selling Bitcoins in Norway must pay VAT. In terms of an individual spending Bitcoins though, there are no laws to regulate the way in which this is done. This means that it is perfectly safe for individuals to conduct transactions using Bitcoin in Norway.
It should be noted however, that Norway takes a strict stance with online gambling. Only two betting companies are allowed to operate and they are both state owned – Norsk Rikstoto and Norsk Tipping. These gambling restrictions are criticised by many as not having a significant affect on problem gambling, but choosing to gamble online with Bitcoin in Norway must be done at your own risk.
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