Skip to content
Solved

IEIM8000240 | Is it a Relevant Cryptoasset?

From HM Revenue & Customs · International Exchange of Information Manual

Relevant cryptoassets are those cryptoassets in respect of which RCASPs must fulfil due diligence and reporting requirements.

A cryptoasset is not a relevant cryptoasset if it is:

  • a central bank digital currency (CBDC)

  • a specified electronic money payment (SEMP)

  • determinedby the RCASP that it cannot be used for payment or investment purposes

If a cryptoasset does not meet any of these three criteria then it is a relevant cryptoasset.