UK’s Official Financial Compensation Fund ‘Doesn’t Cover Digital Currencies’
The UK's Financial Services Compensation Scheme has warned it won't compensate lost digital currencies such as bitcoin and litecoin.
The U.K. tax authority is pressuring crypto exchanges to reveal customers' names and transaction histories in a bid to claw back unpaid taxes, sources said.
U.K. tax body HMRC has provided an in-depth explanation of how cryptocurrency users should pay taxes on their holdings.
After clarifying how individual taxpayers should deal with cryptos last year, the U.K.'s HMRC has now issued guidance for enterprises.
Indeed, getting the bitcoin community to agree what regulation is welcome will likely be a challenge all in itself.
New reports suggest HMRC will formally remove VAT on bitcoin trading in the UK this week.