Glossary · Investing
Cryptoasset
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Definition: A digital token such as a cryptocurrency, stablecoin or NFT. HMRC treats most cryptoassets as property, not currency, so they can be subject to Capital Gains Tax or Income Tax.
For tax, what matters is what you do with a cryptoasset. Disposing of it — selling, swapping, spending or gifting (except to a spouse) — can trigger Capital Gains Tax on gains above the £3,000 annual exempt amount (2026/27).
Cryptoassets received from mining, staking or as payment are taxed as income on their sterling value when received. From 2026 the UK is adopting the OECD Cryptoasset Reporting Framework (CARF), under which platforms report user data automatically.
Primary source: HMRC Cryptoassets Manual, gov.uk