Tax authorities gradually making online currencies a little less cryptic
Britain has recently offered guidance, but our Revenue is already on the record for having previously said the existing tax code can handle cryptoasset transactions
The British tax authority issued guidance in the past couple of weeks in relation to cryptoassets. The Revenue Commissioners here issued similar guidance around this time last year, but given the British clarifications, it’s timely to have another look.
Revenue’s guidance referred to “cryptocurrencies” whereas Britain referred to “cryptoassets”, but nothing really turns on this distinction.
The British explained that cryptoassets were also referred to as “tokens” or “cryptocurrency” and that they were cryptographically secured ...
