Norway plans to acquaint young citizens with the country’s tax policy. The authorities are sure that it is the youth who will determine the future of the cryptocurrency industry.
The Norwegian state agency Brønnøysund Register Center, responsible for managing public registers, is opening its own virtual office in the Decentraland metaverse in partnership with British accounting firm Ernst & Young (EY).
EY Head of Innovation Magnus Jones said that more government agencies see a clear need to be present on platforms that are mostly used by young people. This, says Jones, is in line with both the tax and legal goals of government agencies.
In the virtual office, users will be able to get information about cryptocurrency reporting with the help of the Norwegian Tax Agency, as well as how to create their own legal entity. It is the new generation that will drive the current DeFi-based industry, Jones said, and often the same young people are unaware of the tax or legal nuances that will lie in wait along the way. Therefore, the Norwegian government is going to tell young people how to properly register a company or report on income from digital assets.
Earlier, South Korean regulators reported that the number of crypto investors under the age of 30 had tripled over the past two years. And they expressed concern that spontaneous investments could lead novice investors to bankruptcy.
Source: Bits
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