Crypto has once again broken 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 transactions.
However, many will be unaware that in the UK you can still 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 12 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 as the Bank of England and the Treasury also 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 fast 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 mainstream and eventually regulated by governments internationally as well as looking at the pitfalls that currently exist and will provide advice on how to avoid these.
Discussion will also explore:
- Is crypto here for the long term?
- The rise of Non-Fungible Tokens (NFT’s) as investments
- How is crypto taxed and how to minimise tax exposure
- Transacting in crypto and the tax various tax consequences
- The UK regulation of crypto – what is the future?
- Legal aspects of crypto
- Is financial advice available for crypto investments?
Panelists include Keld van Schreven, founder and MD of KR1, a leading crypto investment company focusing on decentralised and open-source blockchain networks, publicly traded on London’s AQSE Exchange.
Also on the panel is John McCaffery, Tax Partner and Head of Tax at Alexander & Co who specialise in tax issues surrounding crypto for both individuals and businesses in the UK.
Joining them is independent financial advisor Alex Savage of Pareto Financial Planning who will discuss the implications of regulation for crypto.
The event is free and you can register here.