Australia vs Denmark
Crypto regulation comparison
Australia
Denmark
Legal
Legal
Cryptocurrency is legal and well-regulated in Australia. AUSTRAC oversees AML/CTF compliance for exchanges, ASIC handles consumer protection, and the ATO treats crypto as property for tax purposes. Australia has been developing a comprehensive licensing framework for digital asset platforms.
Cryptocurrency is legal in Denmark and regulated under EU frameworks including MiCA. Denmark has notably high tax rates on crypto gains, treated as personal income and taxed at rates up to 52%. The Danish Tax Council confirmed in 2018 that gains and losses on Bitcoin are taxable.
Tax Type
Capital gains
Tax Type
Capital gains
Tax Rate
0-45%
Tax Rate
37-52%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
ASIC, AUSTRAC, ATO
Regulator
Finanstilsynet (Danish FSA), Skattestyrelsen
Stablecoin Rules
Stablecoins to be regulated under proposed payments framework legislation
Stablecoin Rules
Regulated under EU MiCA framework (Denmark is EU member but outside eurozone)
Key Points
- Digital currency exchanges must register with AUSTRAC and comply with AML/CTF Act
- ATO treats cryptocurrency as a CGT asset; holding for 12+ months qualifies for 50% discount
- ASIC regulates crypto products that qualify as financial products under the Corporations Act
- Treasury released a token mapping consultation in 2023 to classify digital assets
- Proposed licensing regime for digital asset platforms under development
Key Points
- Crypto gains taxed as personal income at 37-52% (among the highest in the world)
- Losses on crypto can be deducted against gains
- Finanstilsynet supervises crypto businesses under the Danish AML Act
- Denmark does not have its own crypto-specific legislation beyond EU frameworks
- Skattestyrelsen (tax authority) actively monitors crypto transactions and issues guidance
