Norway's government ruled that Bitcoins don't qualify as a real currency, and it will treat them as an asset -- as opposed to a legitimate currency -- that is subject to capital gains tax. Many countries have been weighing in on how they will treat Bitcoins. Earlier this month, China said that its banks and financial institutions shouldn't handle the digital currency. Bitcoins made headlines in Norway in October after a university student who bought $24 worth of Bitcoins in 2009 suddenly found his account was worth more than $800,000.Norway Dashes Cold Water on Bitcoins
Norway's government ruled that Bitcoins don't qualify as a real currency, and it will treat them as an asset -- as opposed to a legitimate currency -- that is subject to capital gains tax. Many countries have been weighing in on how they will treat Bitcoins. Earlier this month, China said that its banks and financial institutions shouldn't handle the digital currency. Bitcoins made headlines in Norway in October after a university student who bought $24 worth of Bitcoins in 2009 suddenly found his account was worth more than $800,000.
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