THELOGICALINDIAN - On March 10 Norwegian prosecutors accept answerable three men with online narcotics sales that stemmed from the Silk Road exchange Court admiral are now gluttonous a abundant amends of 120 bitcoins alongside millions of Norwegian kroner
Also read: High Tax Slows Bitcoin Development In Norway
Norwegian Prosecutors Demand Bitcoin Payment From Accused Cannabis Dealers
In the summer of 2015 three men were arrested in the greater Oslo arena for operating an online biologic operation and an calm cannabis farm. Norwegian badge bedeviled a “considerable bulk of narcotics” claiming they were actuality awash on darknet marketplaces including the aboriginal Silk Road. Richard Beck Pederson, a prosecutor in the case, told the columnist the accumulation of men acclimated bitcoins for affairs to accord themselves a akin of anonymity.
Interestingly the Norwegian prosecutors are gluttonous 120 bitcoins (US$144,300) and 3.1 actor Norwegian kroner ($360,167) for penalties angry to the charges. Beck Pedersen abundant the cannabis dealers were bent affairs the bitcoin during the analysis and badge accept “evidence for the auction in bitcoins.”
The case marks the aboriginal time a country’s case administration has accepted acquittal in bitcoin. However, prosecutor Beck Pedersen told the bounded columnist the act does not beggarly the accompaniment recognizes bitcoin as acknowledged tender.
“This is in no way an official Norwegian acceptance of the agenda currency,” Beck Pedersen told bounded reporters.
Bitcoin in Norway Has Been Considered an Asset and Is Now VAT-Exempt
Norwegian board spent over two years on the “challenging” delving said the prosecutor. Beck Pedersen additionally abundant the country’s prosecutors formed with all-embracing law administration admiral during the case as well. Evidence from the case had apparent abounding links to the Silk Road exchange afore it was shut bottomward in 2013, Beck Pedersen explained.
Norwegian prosecutors did not acknowledge why they are gluttonous some of the penalties in bitcoin. The balloon adjoin the three men is accepted to activate at some point this year, the prosecutor added.
Norway has already declared how the country defines bitcoins beneath Norwegian law. The Norwegian Tax Administration (NTA) abundant in December of 2013 that the country considers bitcoin an asset and not a anatomy of money. Norwegians at the time were accountable to a abundance tax, and back acclimated by merchants bitcoin was additionally accountable to the country’s sales tax regulations.
This year the Norwegian Ministry of Finance asked the NTA to accede bitcoin affairs Value-Added-Tax (VAT) exempt. The country’s tax bureau after ruled in favor of this accommodation this accomplished February and Norwegian bitcoin affairs are now VAT exempt.
What do you anticipate about the Norwegian prosecutors ambitious amends in bitcoin? Let us apperceive in the comments below.
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