Cryptocurrency policy documents held by the department.
Dear Department for Work and Pensions,
It is my understanding that the DWP regard cryptocurrency to be currency, and so capital for benefit purposes. - this however is in direct contradiction to HMRC, who clearly state they do not consider crypto to be currency. for example,
https://www.gov.uk/hmrc-internal-manuals...
How HMRC Treats Cryptoassets
The tax treatment of all types of tokens is dependent on the nature and use of the token and not the definition of the token.
HMRC does not consider cryptoassets to be currency or money. This reflects the position previously set out in the Cryptoasset Taskforce report.
On its own, owning and using cryptoassets is not illegal in the UK and does not imply tax evasion or any other illegal activities.
https://www.gov.uk/hmrc-internal-manuals...
Therefore can you please send me a copy of all of your DWP policy documents in regard to cryptocurrency.
Yours faithfully,
Scott Jones
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Dear Scott Jones,
I am writing in response to your request for information, received 10th
December.
Yours sincerely,
DWP Central FoI Team
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