Starting from the new fiscal year, the UK will prohibit the inclusion of cryptocurrency ETNs in mainstream ISA tax-free accounts

Starting from April 6, with the new fiscal year, UK investors will no longer be able to add cryptocurrency exchange-traded notes (ETNs) to their Stocks and Shares ISA tax-free accounts.

The UK tax authority HM Revenue and Customs (HMRC) has classified cryptocurrency ETNs as an asset class applicable only to the Innovative Finance ISA, and currently, there are no mainstream platforms planning to offer related product support. Investors who already hold cryptocurrency ETNs in their ISA accounts are not required to sell them. HMRC stated that, given the innovative nature of cryptocurrency assets and the fact that the market is still developing, it will continue to assess whether related policies need to be adjusted in the future.