News
A coalition of UK trade groups has urged the government to include blockchain and digital assets in its planned “Tech Bridge” collaboration with the US.
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United Kingdom News
The Financial Conduct Authority (FCA) serves as the primary financial regulatory body in the United Kingdom. While the FCA ensures that crypto asset firms adhere to effective Anti-Money Laundering and Counter-Terrorist Financing procedures, crypto assets themselves generally remain unregulated. Notably, security tokens, possessing characteristics similar to specified investments such as shares or debt instruments, are the sole FCA-regulated crypto assets.
In the U.K., cryptocurrency taxation is outlined in His Majesty’s Revenue and Customs “Cryptoassets Manual.” Cryptocurrencies are categorized into exchange tokens (used for payment), security tokens (representing interests in businesses), utility tokens (providing access to services) and stablecoins (pegged to fiat money).
Individuals holding crypto assets are taxed on profits, including from airdrops, mining and salary payments. Capital gains tax applies, with a £12,570 tax-free allowance for 2023. Gains exceeding this limit are taxed at 20% to 40%, rising to 45% for higher incomes. Unlike the United States, the U.K. lacks separate short-term and long-term capital gains tax rates, with taxation determined by one’s income tax band, emphasizing the importance of understanding specific transaction types and applicable tax regulations.
A significant development occurred on June 8, 2023, when the FCA published a policy statement (PS23/6), expanding its oversight to include crypto asset promotions. This marked the first time crypto asset promotions fell under the FCA’s regulatory purview, indicating an important step in regulating the U.K. crypto industry.
- News
UK Bitcoin treasury firm Smarter Web may look to acquire competitors at a discount, with CEO Andrew Webley eyeing FTSE 100 status despite a stock price decline.
22677 - News
The petition, made in July, reached more than half of the required signatures for a government response after Coinbase sent out a push notification to its users.
4181 - Market Analysis
Ether price shows resilience as strong onchain activity and balanced options sentiment support a potential price recovery.
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Over a quarter of Brits said they’d add crypto to their retirement portfolios, while 23% would even withdraw existing pension funds to invest in the space.
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Vienna-based Bitpanda is eyeing Frankfurt or New York for a future listing, with its co-founder warning that London’s IPO market is too illiquid to attract investors.
4429 - Opinion
Brazil's 17.5% crypto tax signals a global shift as governments eye digital assets for revenue, ending the era of tax-friendly crypto investing worldwide.
9490 - Opinion
Current age verification drives users to VPNs and sketchy sites. Blockchain can prove you’re over 18 without exposing your identity to data breaches.
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The UK sanctioned Kyrgyz banks, crypto exchanges and individuals tied to Russia’s ruble-backed stablecoin.
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North Wales Police said a scammer impersonating UK law enforcement stole $2.8 million in Bitcoin in a “highly targeted and advanced scam.”
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Nearly half of UK crypto investors face blocked or delayed payments from their banks, raising concerns that Britain is falling behind global rivals in digital assets.
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Concordium launched a mobile app using zero-knowledge proofs for anonymous age verification as UK rules fuel demand for privacy-safe solutions.
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Metaplanet and the UK’s The Smarter Web Company added nearly $100 million in Bitcoin on Tuesday, boosting their positions among the largest public corporate BTC holders.
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TRM Labs says the Embargo ransomware group has moved over $34 million in ransom-linked crypto since April, targeting US hospitals and critical infrastructure.
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Satsuma Technology secured $217.6 million in its latest raise, with over half settled in Bitcoin, drawing support from top crypto funds and UK institutional investors.
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