Submitted on Saturday 19th June 2021
Rejected on Thursday 24th June 2021
Current status: Rejected
Rejection code: duplicate (see below for details)
Treat Bitcoin as foreign currency and end capital gains tax on it.
As Bitcoin is now legal tender in El Salvador, the UK govt should treat it as a "foreign currency" and afford it the same status as all other foreign currencies, like EUR and USD.
In particular, returns on Bitcoin (and other cryptoasset) investments should not be subject to capital gains tax.
Bitcoin is now a bona fide foreign currency. Foreign currencies do not, as a general rule, attract capital gains tax in the UK.
The humanitarian use of bitcoin to send remittances to people in developing countries, failed states and dictatorships is an important use of crypto that we in the UK should be able to participate in without fear of incurring a tax burden.
You can't sign this petition because it was rejected. But you can still comment on it here at Repetition.me!
The Government e-Petitions Team gave the following reason:
There's already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.
You are more likely to get action on this issue if you sign and share a single petition.
petition.parliament.uk/petitions/570346
13.59.192.81 Wed, 20 Nov 2024 18:38:08 +0000
