Canada vs Norway
Crypto regulation comparison
Canada
Norway
Legal
Legal
Canada has a well-developed regulatory framework for cryptocurrency. Crypto trading platforms must register with provincial securities regulators through the CSA, and all crypto businesses must register as money services businesses (MSBs) with FINTRAC. Canada approved spot Bitcoin ETFs in 2021, ahead of most other countries.
Cryptocurrency is legal in Norway and regulated by Finanstilsynet. Norway taxes crypto capital gains at 22% and includes crypto holdings in the annual wealth tax calculation (net wealth above NOK 1.7M taxed at ~1.1%). VASPs must register with Finanstilsynet. Norway is an EEA member and aligning with MiCA through the EEA agreement.
Tax Type
Capital gains
Tax Type
Wealth and capital gains
Tax Rate
0-26.76%
Tax Rate
22% (gains) + 1.1% (wealth)
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CSA, FINTRAC, OSC, AMF
Regulator
Finanstilsynet (Financial Supervisory Authority)
Stablecoin Rules
CSA guidance requires stablecoins to maintain adequate reserves; value-referenced crypto assets regulated
Stablecoin Rules
No specific stablecoin regulation; general financial rules apply
Key Points
- Crypto trading platforms must register with CSA provincial regulators
- All crypto dealers must register as MSBs with FINTRAC for AML/KYC compliance
- 50% of capital gains are taxable; business income from crypto is fully taxable
- Canada approved spot Bitcoin and Ether ETFs in 2021, the first major country to do so
- CSA issued Staff Notice 21-327 on obligations for crypto trading platforms
Key Points
- Crypto capital gains taxed at 22% flat rate
- Crypto included in wealth tax base (~1.1% on net wealth above threshold)
- VASPs must register with Finanstilsynet and comply with AML/CFT requirements
- Norway is a major crypto mining hub due to cheap hydroelectric power
- EEA member; MiCA implementation expected through EEA Agreement adaptation