Country overview

#49

Sweden

Country stats

Rating Points

190

This indicator describes the overall rating of a given jurisdiction on several parameters according to cryptocurrency operations - market volume, crypto regulation, business climate, taxation framework.

Crypto Penetration

1.6%

Estimated percentage of crypto users out of the country's total population based on public data.

Legal Entities

Number of crypto companies registered in the country based on regulator data if available or other types of public data.

Regulation Points

120

An overall assessment of the granularity of crypto regulation in a given country. A high score is also given to countries where cryptocurrency transactions are highly regulated.

Amount of crypto users

166 400

Total amount of crypto users out of the country's total population based on public data.

Taxation points

This figure, according to our analysts' calculations, indicates the overall level of tax burden for cryptocurrency transactions in a given country. The higher the indicator, the lower the burden.

Market volume points

128.4

A rough estimate of this jurisdiction's retail crypto market relative to the rest of the world. The higher the indicator, the higher the market potential.

Status of crypto

Legally allowed

General status of cryptocurrency regulation in this jurisdiction.

Crypto payments

Legally allowed

The legal status of cryptocurrency payments for goods and services in a given country based on information from regulators, public data and feedback from our community.

Security Level

Minor danger

The overall level of security in a given country based on open data.

Crypto Salaries

No info

The legal status of cryptocurrency salaries to employers in a given country based on information from regulators, public data and feedback from our community.

Business Climate

Difficult

Overall assessment of the friendliness of this country for crypto-business. This indicator takes into account the cost of obtaining a license and the attitude towards crypto entities in the country.

Stablecoin Regulation

Low

This indicator is evaluating the regulation of stablecoins in a given country. Complex regulation means that it is possible to issue steiblcoins and obtain a license for this activity. Basic regulation means that the issuance of stablecoins is possible, but not all legal aspects are defined in the law. Standard regulation means that there is a legal practice of steylcoin circulation in a given country.

Bad Factors

This section describes the unfavorable economic factors for crypto-business in a given country. These are countries that are under sanctions or on the FATF grey list and other factors.

Types of licenses

Crypto-to-crypto

This license type allows VASP to provide legal exchange from one cryptocurrency to another.

Crypto-to-fiat

This type of license regulates the exchange from cryptocurrency to fiat.

Wallet/Custody

This country has a legal licensing procedure for companies that store cryptocurrency - - crypto wallet providers and custodians.

Fintech

This indicator means that in a given country, companies with fintech licenses (financial services) can legally transact with crypto assets and the country has appropriate licensing procedures.

Good

Medium

Bad

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The issues of taxation and cryptocurrency exchange in Sweden have long been settled. However, an overly strict approach to AML and high taxes hinder the country's crypto business development. And at the moment, Sweden is considered a country with one of the highest tax rates in Europe.

Security level

Sweden has a minor danger security level according to our rating. The jurisdiction has 51.9 points (from 100) for safety level in Numbeo crime rating (1). Homicide level (2) is 1,1 per 100,000 inhabitants a year. Story of firearm-related death (3) 1.31 per 100,000 inhabitants a year.

Crypto Payments

According to the Swedish Financial Supervisory Authority (“SFSA”), it's possible to pay with crypto (4) in Sweden. However, virtual assets are not considered a standard or well-functioning payment method.

Crypto Salaries

In Sweden from a tax perspective, there is no practical difference in what type of currency you receive your compensation – the income amount will be taxed as income in all cases. Being paid in cryptocurrency as a salary from employment or in exchange for services as a freelancer is taxed (5), similar to being paid in SEK or another fiat currency.

Legal

Swedish Financial Supervisory Authority (the “SFSA”) and Riksbank are the main crypto regulators in the country. Swedish legislation didn't contain (6) a comprehensive regime governing virtual currencies until MiCA implementation. All regulation was based on bylaws issued by regulators.

There were specific regulations regarding certain activities relating to virtual currencies that subject custodian wallet providers and virtual currency exchanges to regulatory registration requirements and requirements to comply with the Swedish Anti-Money Laundering Act (the AML Act). As far as we know, only a few ICOs have occurred in Sweden (for example, by Starflow AB and Chromaway AB).

Sweden implemented MiCA directive by approval of two legal acts: Act on Assessment of cases pursuant to MiCAR (7) in November 2023 and later Act on supplementary provisions to the Market in Crypto-Assets Regulation (8) in July 2024. The transition period for the current VASPs is set up as 9 months up to 30th of September.

Taxation

Tax name	Index
PIT tax Min	30
PIT tax Max	52
Corporate tax (CIT)	20,6
Min Individual CGT (for crypto)	30
Max Individual CGT (for crypto)	30
Wealth tax Min	0
Wealth tax Max	0
Mining tax	0
TDS tax	0

PIT

Employment income is taxed at the following rounded taxable income amounts (2023) is 32% by PWC (9).

CIT

Taxable income is subject to corporate tax at a flat rate of 20.6%, applying from 1 January 2021, according to PWC (9).

CGT

The headline corporate capital gains tax rate is 30%, according to PWC (9).

Links

1)Crime Index by Country 2023 Mid-Year

2)List of countries by intentional homicide rate

3)List of countries by firearm-related death rate

4 and 7)Sweden: Blockchain. Questions and answers.

5)Crypto Tax Guide Sweden – Updated 2022. Article

6)Virtual Currency Regulation: Sweden. Article

7)Act on assessment of cases pursuant to MiCAR

8)Supplementary Act

9)PWC Taxsummaries Sweden

Last update: December 2024

Articles

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Full overview of crypto regulation and relocation options in Eastern Carribean countries - Grenada, Dominica, St.Kitts, Antigua.

intro

Security level

Crypto Payments

Crypto Salaries

Legal

Taxation

Tax name	Index
PIT tax Min	30
PIT tax Max	52
Corporate tax (CIT)	20,6
Min Individual CGT (for crypto)	30
Max Individual CGT (for crypto)	30
Wealth tax Min	0
Wealth tax Max	0
Mining tax	0
TDS tax	0

PIT

Employment income is taxed at the following rounded taxable income amounts (2023) is 32% by PWC (9).

CIT

Taxable income is subject to corporate tax at a flat rate of 20.6%, applying from 1 January 2021, according to PWC (9).

CGT

The headline corporate capital gains tax rate is 30%, according to PWC (9).

Links

1)Crime Index by Country 2023 Mid-Year

2)List of countries by intentional homicide rate

3)List of countries by firearm-related death rate

4 and 7)Sweden: Blockchain. Questions and answers.

5)Crypto Tax Guide Sweden – Updated 2022. Article

6)Virtual Currency Regulation: Sweden. Article

7)Act on assessment of cases pursuant to MiCAR

8)Supplementary Act

9)PWC Taxsummaries Sweden

Last update: December 2024