I've written a post on this on my blog here on Steemit. It's a tricky subject as you allude to.
The gist of my post is that the Governments appear to be taking a "wait and see" approach before formally setting out exact guidelines and policies with the only formal guidance in the UK so far being a broad "catch-all" statement made in 2014 with a "we'll look at each case on its own merits" type of approach. I suspect we'll see some more formal guidance later this year.
In the meantime, as you say "do not bury your head in the sand" on this subject as it may well come and bite in the not too distant future - especially as it's all recorded on the blockchain...