C6.155 The Estonian model for the taxation of cryptoassets
Cryptoassets (which might also be referred to as 'tokens' or 'cryptocurrency') are cryptographically secured digital representations of value or contractual rights1.
This article discusses the whether the Estonian model for taxing transactions in cryptoassets might be a framework that HMRC could find useful as the thinking on the taxation of these assets evolves.
For the definition of cryptoassets and cryptoasset transactions, see C6.103–C6.104. For a glossary of key terms associated with cryptoassets, see C6.102.
Taxation of cryptoasset transactions—future changes
The UK Government has consulted on the taxation of decentralised finance (DeFi) in 2023 and a summary of responses is awaited. Whilst the consultation focuses on the lending
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