Cryptoasset taxation — stablecoins
Read the full outcome
Detail of outcome
The response document includes a summary of feedback received on the taxation of stablecoins and sets out the outcome of the call for evidence:
- respondents supported the government’s decision to consider reforming the tax treatment of stablecoins
- the government will introduce legislation to treat eligible stablecoins more like money for tax purposes
- for individuals and trustees, it means exempting disposals of eligible stablecoins from Capital Gains Tax and taxing interest-like returns from lending eligible stablecoins as savings income for Income Tax
- for companies, it means taxing certain transactions involving eligible stablecoins based on their accounts for Corporation Tax
A technical consultation on the draft legislation has been published alongside this document. The measures will be included in Finance Bill 2026 to 2027, with effect from April 2027.
Original call for evidence
Call for evidence description
The Call for Evidence is seeking views on how stablecoins are treated for both individuals and companies. The government would like to hear from investors, professionals and firms that use stablecoins, including technology and financial service firms; trade associations and representative bodies; academic institutions and think tanks; and legal, accountancy and tax advisory firms.
Documents
Updates to this page
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A summary of responses to the consultation has been published.
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First published.