Crypto Profile Linus Dunkers Acquitted of Serious Tax Offenses
2024-10-02
Linus Dunkers was originally sentenced to one year and two months in prison by the district court for serious tax and accounting offenses related to his bitcoin trading. Now, almost two years later, he has been fully acquitted on all charges by the Court of Appeal. He told DI that “vindication” is the right word to describe his feelings after the verdict.
Dunkers, who according to the Swedish Tax Agency made 25 million SEK over a three-year period through cryptocurrency trading, was sentenced in 2022 for serious tax evasion. However, the Court of Appeal has now acquitted him, as it could not be proven that he intentionally tried to avoid taxes. He was also acquitted of two counts of serious accounting offenses.
Dunkers Still Liable for Taxes
Despite the acquittal, Dunkers is still required to pay an additional tax of 8 million SEK for his crypto transactions. In a video interview with SVT News, he mentioned that he plans to apply for debt restructuring. Currently residing in Malta and working as a remote IT consultant, he remains liable for taxes in Sweden.
A Milestone for the Tax Agency’s Handling of Bitcoin Trading
Dunkers’ acquittal could have significant implications for how the Swedish Tax Agency deals with bitcoin and other cryptocurrencies moving forward. The Court of Appeal found that Dunkers did not intentionally evade taxes and noted that the tax regulations regarding cryptocurrency transactions were unclear at the time of his business activities.
This case highlights the need for clearer guidelines and communication from the Tax Agency concerning the taxation of cryptocurrencies. The rapid development of digital currencies like bitcoin has outpaced the legal framework’s ability to keep up with their complexity.
Dunkers’ case underscores the demand for more transparent rules and guidance to avoid similar situations in the future, potentially increasing pressure on the Tax Agency to clarify how crypto transactions should be reported and taxed.
