I am talking about leverage trades yes.
Have you had professional advice on this?
I am just trying to see how everyone is handling it. So far I have had CGT from most people I have talked to. Others have argued gambling in the case of the perps contract as it designed specifically for speculation & could be deemed a wager contract as it is peer to peer & the funding rate make it pretty useless for hedging.
Have you had professional advice on this?
I am just trying to see how everyone is handling it. So far I have had CGT from most people I have talked to. Others have argued gambling in the case of the perps contract as it designed specifically for speculation & could be deemed a wager contract as it is peer to peer & the funding rate make it pretty useless for hedging.
If this is something you're worried or unclear about then get an accountant to be safe. Unless otherwise stated by your government I would say trading in cryptos would most likely fall under the same rules as trading stocks and shares and you're probably liable for capital gain taxes on profits. I would be surprised if they count this as gambling but you don't have to pay taxes on gambling profits in the UK last time I checked.
