Clarification of tax position for mining – Sweden

Disclaimer: Before applying these rules to your own circumstances or act upon the information contained here, please seek information from your accountant, tax advisor, legal representative or the Swedish Tax Authority. The Swedish Tax Authority...

Ripple Labs fined by FinCEN

Ripple Labs operator of the Ripple protocol has been fined $700k on a number of counts including: failing to have registered as an MSB; for not having an AML policy in place and not having a...

Are you trading a digital currency derivative? UK

Financial Markets Act 2000 (FSMA) is the main legislation regulating the financial services industry. This may affect you if you are trading digital currency derivatives in the UK. Core prohibition under s.19 FSMA: "(1)No person may...

Proceeds of Crime applies to digital currency businesses – UK

Part of the Proceeds of Crime Act 2002 applies to digital currency businesses based in the UK. Primary offences include: Concealment of criminal property (s.327) Arrangement of a transaction involving money laundering (s.328) Acquisition, use or possession of criminal...

Tax treatment of speculative digital currency transactions – UK

HMRC Guidance Note March 2014 mentions that the application of income, corporation or Capital Gains to a transaction will depend on the facts. See as follows: "Whether any profit or gain is chargeable or any...

No retrospective effect tax treatment of digital currencies – UK

HMRC Guidance Note of March 2014 on the taxation of digital currencies in the UK states: "Given this, the evolutionary nature of these cryptocurrencies and the legal and regulatory environments in which they currently operate, this...