Chapter CRYPTO21250

Published date30 March 2021
Record NumberCRYPTO21250

An airdrop is where someone receives an allocation of tokens, for example as part of a marketing or advertising campaign in which people are selected to receive them. Other examples of airdrops may involve tokens being provided automatically due to other tokens being held or where an individual has registered to become eligible to take part in the airdrop.

The airdropped tokens, typically, have their own infrastructure (which may include a smart contract, blockchain or other form of distributed ledger technology) that operates independently of the infrastructure for an existing cryptoasset.

Income Tax will not always apply to airdropped tokens received in a personal capacity. Income Tax may not apply if they’re received:

  • without doing anything in return (for example, not related to any service or other conditions)
  • ...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT