Bitcoin isn’t money, says UK tax authority

Welcome to the first Moonday Morning of November. If you don’t know what that means, where have you been? But seriously, it’s Hard Fork’s wrap-up of this weekend’s cryptocurrency and blockchain news that you can’t afford to miss.

Let’s take a look.

1. Late last week, the UK‘s tax office, Her Majesty’s Revenue and Customs (HMRC), issued an update to its  guidelines for how businesses and individuals should pay tax on their cryptocurrency. Bear in mind these guidelines relate only to what HMRC refers to as “exchange tokens,” which include Bitcoin. BTC Guidance on security and utility tokens is coming at a later date. The TL;DR? If you deal in cryptocurrency in the UK you probably owe tax on it, and HMRC doesn’t class the digital tokens as money or currency.

2. Authorities in Hindustan, India arrested three individuals in connection with an online and cryptocurrency fraud scam, The Hindustan Times…