Bulgaria vs Denmark
Crypto regulation comparison
Bulgaria
Denmark
Legal
Legal
Cryptocurrency is legal in Bulgaria and subject to a flat 10% tax on capital gains, one of the lowest in the EU. Bulgaria adopted the EU's MiCA framework and requires crypto service providers to register. The country has a notable history with crypto due to a large government Bitcoin seizure in 2017.
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
10%
Tax Rate
37-52%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
NRA (National Revenue Agency), FSC (Financial Supervision Commission)
Regulator
Finanstilsynet (Danish FSA), Skattestyrelsen
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
Regulated under EU MiCA framework (Denmark is EU member but outside eurozone)
Key Points
- Flat 10% personal income tax rate applies to crypto capital gains
- VASPs must register with the NRA for AML compliance
- MiCA framework applicable from December 2024
- Bulgaria reportedly seized approximately 200,000 BTC in a 2017 crime bust (status debated)
- No specific crypto legislation beyond EU directives and general tax law
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