Analysis
UK lawmakers are taking sides over the issue of cryptocurrencies as parliamentarians look to update campaign donation laws.
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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.
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The UK has jailed a former National Crime Agency officer who stole and spent Bitcoin seized from Silk Road 2.0 co-founder Thomas White.
6155 - News
After rolling out Bitcoin and Ether spot trading, Standard Chartered plans to soon introduce crypto derivatives for institutional investors.
3408 - News
Bank of England governor Andrew Bailey joins a growing list of European officials concerned with the rise of stablecoins.
13295 - News
Thousands of savers face potential losses after a $2.7 million shortfall was discovered at Ziglu, a British crypto fintech that entered special administration.
7906 - Explained
In 2025, governments hold over 463,000 BTC, with the US and China leading, while countries like Bhutan, Iran and the UK quietly build strategic reserves.
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French company The Blockchain Group and the UK-based Smarter Web Company each boosted their corporate Bitcoin treasuries on Monday with multimillion-dollar BTC purchases.
5538 - News
Two men who admitted to running a crypto scheme that defrauded 65 investors have both been sentenced to over five years in prison.
9447 - News
Binance names Gillian Lynch as head of Europe and UK to lead its MiCA compliance and expansion across regulated crypto markets.
3469 - News
Smarter Web boosted its Bitcoin treasury with an additional $24.7 million BTC purchase as part of its 10-year strategy.
3955 - News
The move comes as a debate is unfolding in the UK on whether users should be allowed to buy cryptocurrencies with credit cards.
14590 - News
A new OMFIF blog warns the UK is losing its early advantage in digital asset regulation, as the EU enforces MiCA and the US advances with the Genius Act.
17225 - Opinion
As the EU’s MiCA regulation and the UK’s evolving crypto laws diverge, fund managers face a key choice: to opt for the EU’s legal certainty and passporting or the UK’s flexible, innovation-driven approach.
2219 - News
The UK’s Financial Conduct Authority has proposed lifting its retail ban on crypto exchange-traded notes (ETNs), signaling a shift toward broader crypto market access.
4308 - News
Switzerland’s Federal Council expects to enforce the bill on the automatic exchange of crypto information with 74 countries by late 2026, with the first exchange seen in 2027.
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