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UK investors will be unable to buy cryptocurrency for their Isa from the start of the new tax year, in spite of chancellor Rachel Reeves’ pledge to make the UK “a world-leader in digital assets”.

Crypto exchange traded notes (ETNs) can currently be bought within mainstream stocks-and-shares Isas with some providers.

But HM Revenue & Customs ruled in October that, as of April 6, this would no longer be permitted. Crypto ETNs would instead be reclassified as qualifying investments for the little-used Innovative Finance Isa, an obscure wrapper not covered by the UK’s Financial Services Compensation…