Somebody needs to tell me what my opinion is on this!
nostr:note1zcrdxprumqg6ttkeauj8e658mr2chhj8ymsqru3t6vy4f7l5u6jqwcap9w
The Property (Digital Assets etc) Bill, introduced in Parliament today, will mean that for the first time in British history, digital holdings including cryptocurrency, non-fungible tokens such as digital art, and carbon credits can be considered as personal property under the law.
#Bitcoin #BTC #Cryptocurrency #Crypto #UnitedKingdom #UK #Nostr
https://www.gov.uk/government/news/new-bill-introduced-in-parliament-to-clarify-cryptos-legal-status
Discussion
It's a bit of a nothing burger having read the article. It's simply placing digital assets in the legal framework as property, where as it wasn't previously.
If you legally own it, you can legally be held accountable and taxed on it 😂
That's not my reading of it but I know what you mean. It's just an asset though and is obviously liable for CGT should you sell it. I don't see what other tax law it could or would fall under. Unless of course, they make up a new one and if they do, I'll be moving to The Cayman Islands😬😂.