In the UK, is Arbitrage of Cryptocurrency declared under Income Tax, or Capital Gains Tax?
I am currently using a USDT Arbitrage system which withdraws a set amount, and returns another.
For example:
A 1.00 USDT withdrawal returns 1.01 USDT.
Thanks.
The answer to your question depends on the facts surrounding your activity. It sounds like you are depositing or staking a specific amount with a DEFI protocol (that engages in arbitrage transactions) and then getting your deposit back with a return. My question is whether you are engaged in arb transactions yourself or is the protocol using your staked USDT to conduct an arb trade and providing you with part of the arb gain?
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