Shedding light on a murky world

In a world where even investors lack a precise understanding of cryptocurrencies, Jacquelyn Kimber attempts to make sense of the taxation of cryptoassets

Bitcoin, the first and most well-known cryptoasset, is now just over 10 years old. For many, the world of cryptoassets, with its baffling lexicon and impenetrable acronyms, remains a murky one. Rather worryingly, according to an FCA report, a proper understanding of what precisely cryptocurrencies are appears to be lacking even amongst investors. Whether misunderstood or not, the rapid growth of cryptocurrencies cannot be overlooked, particularly with high profile launches such as Facebook’s Libra.