Norway opens tax office in Decentraland metaverse (MANA)

In recent times, Norway has increased its interventions in the field of the Web3. Lately, the country’s tax administration partnered with consulting firm Ernst and Young to build a tax office in the Decentraland (MANA) metaverse.

Norway dives into the metaverse

After announcing its Ethereum (ETH) -based Central Bank Digital Currency (MNBC) project, Norway continues its immersion in the Web3. A few days ago, during a conference at NTNU University, the Nordic country announced it the creation of a tax office in the Decentraland metaverse.

To lead this project, Skatteetaten, the Norwegian tax administration, and Brønnøysund, the country’s national registry, turned to the consulting firm Ernst and Young.

According to Magnus Jones, executive director of Ernst and Young, the goal of this virtual office is to support users who want to register a company. In parallel, the virtual place with the ambition of helping investors to declare themselves their capital gains in cryptocurrency.

The office in question in the Decentraland metaverse

By participating in this project, the Norwegian government tried to understand Web3 and its challenges before regulating it. Furthermore, in one of his posts on LinkedIn, Magnus Jones stresses the importance of administrative authorities in democratizing the sector:

“Congratulations to the Norwegian authorities who dare to take steps to bring clarity to this complex area. We need to move forward with the first global guidelines on how to regulate DeFi and NFT and thus become a leader in the cryptocurrency industry. “

As for the virtual tax office, it is accessible to the public on Decentraland at the following coordinates: 59, 138. Please note that Decentraland is a decentralized metaverse built on the Ethereum blockchain.

Currently, Norway is far from the only country interested in the metaverse. From the transformation of Facebook into Meta, states around the world are turning to this industry.

While Japan has voted for tax breaks for Web3 companies, France has just released a hundred-page report on the metaverse. Commissioned by the Ministry of Economy, this document presents the challenges of the metaverses to make France a place of innovation.

👉 Find our guide to buying MANA from Decentraland in minutes

The platform that makes trading easier

Buy cryptocurrencies in minutes

toaster icon
Investing in cryptocurrencies is risky (find out more)

Sources: LinkedIn and Kaupr

Newsletter 🍞

Receive a cryptocurrency news summary every Monday via email 👌

What you need to know about affiliate links. This page presents assets, products or services related to investments. Some links in this article are affiliates. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus using our links.

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and cannot be held responsible, directly or indirectly, for any damage or loss caused as a result of the use of a good or service highlighted in this article. Investments related to cryptocurrencies are risky in nature, readers should do their own research before taking any action and invest only within the limits of their financial capabilities. This article does not constitute investment advice.

Leave a Comment