UK Government Says It Will Update Crypto Tax Guidance By Early Next Year

UK officials have outlined a range of regulatory steps around cryptoassets and distributed ledger technology (DLT) in a new report.

The UK government’s “Cryptoasset Taskforce,” first announced this past March, published its final report on Monday, finding that the technology that makes up cryptocurrencies can be used to benefit the financial services sector, as well as other industries.

As such, the HM Treasury, Financial Conduct Authority and the Bank of England – the three groups that constitute the task force – will “encourage responsible development of legitimate DLT and cryptoasset-related activity in the UK.”

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