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Starting in the new fiscal year, the UK will prohibit the inclusion of crypto ETNs in mainstream ISA tax-free accounts
Svmuu News: With the start of the new fiscal year on April 6, UK investors will no longer be able to add crypto exchange-traded notes (ETNs) to their “Stocks and Shares ISA” tax-free accounts. The UK tax authority, HM Revenue and Customs (HMRC), has classified crypto ETNs as an asset class applicable only to “Innovative Finance ISAs,” and currently no major platforms plan to offer support for such products. Investors who already hold crypto ETNs in their ISA accounts are not required to sell them. HMRC stated that, given the innovative nature of crypto assets and the fact that the market is still in its early stages, it will continue to assess whether adjustments to relevant policies are necessary in the future.
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