Finansinspektionen, Sweden's financial watchdog, authorized Stockholm-based Bitcoin tracker XBT Provider last month to launch the digital currency on the Nasdaq Stockholm exchange.Alexander Marsh, Chief Executive Officer of XBT Provider, told Bloomberg at the time: “We are proud to offer the world's first 'Bitcoin tracker' to be traded on a regulated exchange.By enabling this easy and secure way to invest in Bitcoin we hope to have eliminated the boundaries that earlier prevented individuals and companies from being able to actively invest in what we believe to be the future of money.” Bitcoin is a digital currency and peer-to-peer payment system introduced as open source software in 2009 by developer Satoshi Nakamoto.The currency uses cryptography to control the creation and transfer of money.It is perhaps unsurprising that the first Bitcoin certificate would launch in tech-savvy Sweden, which saw one politician run for office last year using only digital currency campaign funds.

Behind the venture is Swedish firm KnC Miner AB.The start-up, which had racked up $75 million in turnover in around eight months after its launch in June 2013, opened a new data hub in northern Sweden last year, just a stone's throw from Facebook's European data centre.KnC Miner is a provider of hardware used in the mining of the digital currency Bitcoin, and the company boasts customers in 120 countries.Bitcoin can be bought and sold just as a conventional currency.In autumn 2013 its value rose to over 1,000 dollars.The hype has calmed down somewhat since then, and on Sunday one Bitcoin was worth 1,949.94 Swedish kronor ($237.47).But while many hail it as a new financial freedom movement for the digital generation, others have warned of risks.“Young guys will probably buy it.Bitcoin stands for a new digital world, free from the banking system.It's almost somewhat political,” savings analyst Claes Hemberg of the Avanza bank told Swedish news wire TT on Monday."You shouldn't put more money towards Bitcoin than you would bet on a horse race.

You can win, but also lose everything," he warned.Despite initial scepticism, the financial industry has taken baby steps towards the digital market this year.In January, the New York Stock Exchange made a minority investment in Bitcoin platform Coinbase.And in April UBS announced plans to create a London-based research lab for examining Blockchain, the underlying technology for digital currencies.But Hemberg added: "I get worried when people think that Bitcoin has a determined value.bitcoin mining abusePeople have so far agreed that they are worth this or that much, but that's just like the value of a collectors' item.bitcoin anlageIt's an agreement between buyer and seller."bitcoin $10 collegeNorway’s largest bank DNB proposes to stop using cash as a means of payment in the country.litecoin currency converter

According to the DNB bank’s executive Trond Bentestuen, more that half of all cash transfers in the country are made without the banks’ control, and so could be used for illegal purposes.He commented to local news media outlet VG.no: “Today, there is approximately 50 billion kroner in circulation and [the country’s central bank] Norges Bank can only account for 40 percent of its use.That means that 60 percent of money usage is outside of any control.bitcoin vinWe believe that is due to under-the-table money and laundering.” Norway has already became one of the leading countries to propose using electronic money.bitcoin nutzer deutschlandSeveral banks have already refused to accept or offer cash transactions in their branches all over the country.The widespread adoption of mobile payment solutions and bankcards turned out to be more popular among Swedes than old-fashioned cash payments.

A study by the KTH Royal Institute of Technology in Stockholm has shown that Sweden may become the world’s first cashless country.Niklas Arvidsson, an industrial technology and management researcher at KTH, commented that now of all Swedish crowns in circulation, “only somewhere between 40 and 60 percent is actually in regular circulation”.Moreover, Bengt Nilervall from the Swedish Federation of Trade explained that moving to a cashless society is safer and saves money.He adds: “So Swedes feel confident paying electronically.” The Chamber of Commerce of Denmark has also proposed to allow most retailers (except for essential services like hospitals, post offices, etc.)to make all money transactions electronically and ban cash.Moreover, the Danish government has “set a 2030 deadline to completely do away with paper money.” Another of Norway’s largest banks, Nordea, has also refused to accept cash in November 2015.It left only one branch in Oslo Central Station to continue handling cash, thus enabling customers to still be able to get cash via banks ATMs.

Åse Dahl, manager of the Nordea bank branch at Oslo Central Station, said: “The whole of society is going in this direction.The other banks will follow – it’s just a matter of time.” However, to date, the Finance Ministry of Norway has no plans to change its laws, at least for now, as there are still many people, including the elderly, who still want to use cash.However, as Norway is not an EU country, the local legal approach towards Bitcoin differs from most neighbour countries that follow the decision of European Court of Justice that Bitcoin ‘be exempted from VAT’.In 2014 some local banks were closing bank accounts of Bitcoin-related companies, like Länsförsäkringar that said they did not want any customers using Bitcoin or Nordea that closed the accounts of Bitcoinbolag.Also Bitcoin exchange into the local Norwegian krone (NOR) is subject to a 25% VAT.Nevertheless, Denmark and Sweden are EU countries.Also in May 2015, the Tax Authority of Sweden published guidelines for assessing Income Tax on Bitcoin mining.