In their new taxation guidelines HMRC have stated that as cryptocurrencies (and by ‘cryptocurrencies’ they mean exchange tokens like Bitcoin, advice on security and utility tokens will follow) are neither money nor securities in their eyes, they will be exempted from stamp tax.

On the surface this might look like good news for investors but many think the new guidelines could actually herald a massive administrative headache for everyone involved.

The Revenue has also insisted businesses will now need to keep a record of every transaction having not only exchanged the value of…

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