Baltics are one of the leaders in crypto adoption and Finland knows, who didn't pay their crypto taxes

Good morning cryptofans! Let the new week begin and let's start off with positive vibes from the Northern Europe. Namely, bitcoin.com reports that accepting crypto payments has been on a nice steady uptrend in the Baltic States - Estonia, Latvia, Lithuania.

We all know smaller and more innovation-prone merchants accepting cryptocurrencies for small goods and services, for example paying for coffees, trinkets, memorabilia - they are everywhere around us already. But recently larger businesses - hotels, clinics and mostly land developers and real estate businesses have taken the leap of faith and selling their projects for Bitcoins.

_auriai.lt

If you have lots of funds in Bitcoin and want to grab some land near Vilnius, Lithuania, in the Auriai area, head to their website and open your crypto wallet locks. Looking further, one can purchase penthouse apartments and other real estate for cryptos in the other Baltic countries too.

_{trustnodes.com}

Trustnodes.com reports that United Colors of Benetton, a well-known clothing brand, has started accepting various cryptos for their goods in Lithuania. Tens and tens of small merchants and private citizens are already accepting cryptos for their work.

While there has been no specific regulation covering cryptocurrencies, Baltics are one of the leaders in widespread crypto adoption - but out of necessity comes the use - as people and businesses acknowledge Bitcoin and it's smaller brothers and sisters more, cryptos are on the way of being one of the most-used payment options in every part of Europe.

Sources used:
ethereumworldnews.com
bitcoin.com
trustnodes.com

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Lets move a bit more north and deal with bit more serious business. Lets see what Finland tax authorities have to tell us.

Apparenly the Finland tax offices have identified more than 3300 people, who owe taxes on their cryptocurrency-related transactions. While many users think Bitcoin and other cryptos are all about anonymity, moving them, paying with them, withdrawing them often leaves a trace that skilled parties or authorities can easily collect.

The Tax Administration Office of Finland reports that they have been given generous access to various transfer logs and personal details, from which they have identified at least a cool 30 million Euros worth of undeclared taxes. As the number of identified users, who didnt declare their holdings, was just a mere 500 at the end of last year, the rise to 3300 shows how much crypto is actually used. And it's probably just the tip of the iceberg. Timo Puiro from the Taxation Unit reports:

"The majority of people have previously failed to report their bitcoin-related income, which we have found when we compare the information we collect to the tax information reported…The Tax Administration has extensive access to information, for example, to payment information, and we have different ways to combine information and identify people."

Who wants to pay taxes plus interest later? No-one. You would do good to familiarise yourself with your countries tax laws and doing your homework right now, as you could be charged with criminal tax evasion in some countries.

Be smart.

Sources used:
bitcoin.com
itcoinwarrior.net

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