UK Issued a New Guideline For Crypto Taxation

The United Kingdom had just issued a precise guideline for crypto taxation. It covers different types of dealing with the virtual assets and processes they are engaged in. It is called The Cryptoassets Manual.

There are certain criteria the guideline applies to every type of the virtual assets. The only thing isn’t clear enough is the taxation of staking. However, the list of criteria to evaluate it is given in a guideline.

Different countries are actively working on crypto regulation as digital assets become popular around the world. This task is quite challenging but necessary because governments can benefit from it rather than ban cryptocurrencies completely, which is the easiest but definitely not the right way.

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