Am I right in thinking that in the UK we

Im thinking this is maybe happening with bitcoin, blackrock and spot ETFs where financial institutions can put crypto(bitcoin) on their books and effectively borrow against their value overall? Thats the way ive kinda read it as, but if theres any experts or anyone else with another take, im always happy to learn 😅

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17.07.2023

Paul Автор вопроса

Before people go off on one...I know what most feel about this fella but Lewis Jackson did a YT on the new UK Crypto laws. In this video he mentions that they allow us to be able to take out a loan using crypto as collateral. So, if this is the case then would it be illegal to take out (numbers are made up obviously) a loan for £10m against a wallet of XRP a valued at £18m. What you could do is set the sale of XRP at a minimum of £15m to ensure that you have enough money to pay the debt off and you get £10m tax free. Or would it be cheaper to pay tax rather than interest on the loan?

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17.07.2023

Mixmastermcd

Paul
Before people go off on one...I know what most fee...

Ive not seen it either, but i refered to the bitcoin spot ETFs a bit earlier, this is the only way ive seen that a business could use crypto(bitcoin) as holidings in a companies balance sheet, then they can borrow against their assets

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17.07.2023

Mixmastermcd · Accepted Answer

Mixmastermcd

Dont pay taxes on loans, ye put debts thru as expenditure and offset them against allowances, then if yer really successful... Take a tax free loan from yer company every year😅

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17.07.2023

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