NapNel1799

Thank you. Reading that link I believe I do not meet any of criteria as the migrated tokens are the same type of cryptoasset, do HMRC agree with this position?

Hello, I bought some crypto that has now migrated to a new contract. I bought 1 Merit Circle token which months after purchasing was migrated to 100 BEAM tokens. The BEAM token has the same utility as the Merit Circle token and the same organisation runs the token. I had to migrate as Merit Circle tokens will become unsupported next month. Please can I confirm that this migration is not a taxable event, and when I eventually sell the BEAM tokens to work out my initial purchase cost I take the cost of the Merit Circle token divided by 100? The migration was a 1:100 basis. Many thanks.