How is crypto taxed in Denmark?

Denmark crypto tax rules start from a strict premise. The Danish Tax Agency, Skattestyrelsen, starts from the view that buying crypto is speculation, so profits are taxed as personal income at your normal rates. Losses can be deducted, but at a lower value, which creates an imbalance between gains and losses.

How is bitcoin tax in Denmark calculated?

Gains are taxed when you realise them, using the first in, first out method. Your holdings of a coin are pooled across all exchanges and wallets, so the oldest coins are treated as sold first. For the general concept, see what is crypto cost basis.

A gain is taxed in the same way as wages but without the labour market contribution, so the rate depends on your total personal income. Gains go in box 20 of the annual tax statement and losses in box 58. The agency recommends keeping order, purchase, sale and payment records, such as screenshots or CSV exports.

Denmark's Supreme Court backed the speculation view in two 2023 rulings. Some products are handled differently. Certain stablecoins, perpetual and quarterly futures and a few tokens have been treated as financial contracts, taxed each year on changes in value.

How are crypto losses treated in Denmark?

Losses are deductible only as a lower-value deduction. Skattestyrelsen's own example says a loss of 1,000 kroner saves about 260 kroner in tax, while a gain can be taxed at much higher personal income rates. Losses from fraud are generally not deductible. Compare this with other approaches in crypto losses and taxes.

Mining is generally treated as a hobby business taxed on a net basis. Staking rewards are generally taxed as income when you receive them.

What is the Denmark crypto mark-to-market tax proposal?

In October 2024, the Tax Law Council, an independent committee working under the tax ministry, recommended taxing financial crypto assets on a mark-to-market basis. Gains and losses would be counted each year based on the change in value of all holdings, whether or not anything was sold, and taxed as capital income. Losses could be offset against crypto gains and carried forward. The council said the rules should start no earlier than January 1, 2026.

The tax minister planned a bill for early 2025 but postponed it in December 2024, saying more time was needed to find the right model, and the bill was then expected in autumn 2025. The Tax Agency's legal guide for 2026 still describes the existing rules, and as of October 2026 crypto in general is not taxed on a mark-to-market basis. For a regional comparison, see how is crypto taxed in Germany.

Rules differ by country and change often. Check the tax authority or a qualified professional for your own situation.