UK to Ban Crypto ETNs from Mainstream ISA Tax-Free Accounts from New Fiscal Year

Odaily News Starting April 6th, with the commencement of the new fiscal year, UK investors will no longer be able to add crypto exchange-traded notes (ETNs) to their "Stocks and Shares ISA" tax-free accounts. The UK tax authority, HM Revenue and Customs (HMRC), has classified crypto ETNs as an asset class eligible only for "Innovative Finance ISAs." Currently, no mainstream platforms plan to offer support for such products.

Investors who already hold crypto ETNs within their ISA accounts are not required to sell them. HMRC stated that, given the innovative nature of crypto assets and the market still being in a developmental stage, it will continuously assess whether related policies need adjustment in the future.