U.K. Accepts Cryptos as Financial Instruments, Bringing Tax Clarity

Cryptocurrency traders have more clarity on which U.K. taxes apply to crypto assets due the government’s acceptance that a security token can be treated as a regulated financial instrument.

Security coins or security tokens are crypto assets that are backed by some form of security—for example a single token backed by a ownership of a single share, would mean it could be exchanged for a share, at the discretion of its owner.

This link to securities and the government accepting their regulatory status means that taxpayers can feel more assured that, different types of withholding tax, value added tax or ...