The UK Ministry of Justice has clarified that cryptocurrency holdings fall under the category of capital holdings for prospective applicants of its 'Help with Fees' scheme.
The Ministry of Justice’s proposed ‘Help with Fees’ scheme will not classify cryptocurrencies as disposable income following a public consultation.British citizens that hope to access legal assistance through the proposed ‘Help with Fees’ scheme will not have cryptocurrency holdings classified as disposable income.its response following public consultation over its proposed legal aid scheme aimed at providing equal access to the justice system.
According to the ministry, the majority of respondents support the proposal, highlighting that it helps capture investments that are not available as liquid assets. “There was also a comment that the non-exhaustive list is too vague and there should be more clarity, for example, that cryptocurrency should be included.”
“Furthermore, we confirm that cryptocurrencies are already covered by the current definition of capital under the Fees Orders, and they will continue to be covered by the proposed definition.”
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