UK tax authorities: ‘crypto assets’ are not currency or money
The UK‘s tax office, Her Majesty’s Revenue and Customs, published details that outlines its stance on cryptocurrency and digital assets, obviously in the name of taxation. In a document titled “cryptoassets for individuals,” spotted by Coindesk, the HMRC highlights how it does “not consider cryptoassets to be currency or money.” While this might sound anti-cryptocurrency, it’s a stance that the HMRC has to take in order to classify digital assets for what it deems as appropriate taxation. Indeed, the HMRC sees crypotcurrency, tokens, and digital assets of this nature as property rather than as forms of money. As a result,…
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