While P2P lending and crowdfunding are already well established, the full range of blockchain’s practical uses have yet to be explored. Blockchain, a decentralised digital ledger technology, will affect the legal, regulatory and tax environment in which fintech players operate. With the exception of certain tax rules affecting IP and R&D, any tax consequences are likely to flow from the actual transaction enabled by blockchain, rather than the technology itself, and these will only come into play once more practical uses have been established. Tax practitioners should therefore monitor practical uses for this technology as they develop.
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