Crypto has once again broke through the $2 trillion mark, with the market doubling in value.
The upgrade to Ethereum’s digital ledger, the world’s second largest cryptocurrency, has also led to many predicting a continuing increase in the long-term worth of cryptocurrency and crypto tokens.
With increased focus on crypto, HMRC recently released guidance outlining the tax consequences of different types of crypto asset transaction.
However, many will be unaware that in the UK you can be liable to pay tax on crypto assets in a wide range of circumstances, including when received as payment or when exchanged for other types of crypto assets.
With 39 per cent of UK crypto investors estimated to have sold some of their holdings in the past twelve months to capitalise on its steep gains, many will face significant tax liabilities.
Currently, the Treasury is reviewing evidence on how to regulate crypto assets in the UK at the same time as the Bank of England and the Treasury consider the possibility of digital assets being integrated into the UK’s monetary system, which some experts consider unlikely to materialise.
With many regulatory areas of crypto developing at a face pace as the currency continues to mature, this webinar will explore what is next for crypto.
We will be asking our panel if it will become more mainstream and eventually regulated by governments internationally. The panelists will also explore the pitfalls that currently exist and will provide advice on how to avoid these.
Panelists include Keld van Schreven of KR1, a leading crypto investment company.
Also on the panel is John McCaffery, Tax Partner at Alexander & Co who specialise in tax issues surrounding crypto.
Joining them is independent financial advisor Alex Savage of Pareto Financial Planning who will discuss the implications of regulation for crypto.