Corporation tax: Profits or losses on currency exchange movements including virtual currencies are taxable. The profits and losses of a company that engages in cryptocurrency transactions would be recognized in the books and taxable under standard corporation tax regulations.
Pips are the units used to measure movement in the price of a cryptocurrency, and refer to a one-digit movement in the price at a specific level. Generally, valuable cryptocurrencies are traded at the ‘dollar´ level, so a move from a price of $190.00 to $191.00, for example, would mean that the cryptocurrency has moved a single pip. However, some lower-value cryptocurrencies are traded at different scales, where a pip can be a cent or even a fraction of a cent.

Without a clear track record to assess long-term value, cryptocurrency rises and falls on an unpredictable demand cycle. And for individual investors, the challenge is “you really don’t know where supply and demand can end up,” Aliaga-Díaz says.
GARY GENSLER: This asset class is rife with fraud, scams and abuses in certain applications. There's a great deal of hype and spin about how crypto assets work.