Explained
Discover the five governments that simplified crypto licensing in 2025, from the GENIUS Act in the US to the EU’s MiCA passporting regime.
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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Bybit will phase out services for Japan-based users starting in 2026, following earlier steps to halt new registrations.
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The UK’s financial watchdog has launched a sweeping consultation that may reshape how crypto exchanges, staking services and DeFi operate ahead of a 2027 rollout.
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Bybit is relaunching in the UK with a stripped‑back spot and P2P platform, reopening a market it exited after the Financial Conduct Authority’s (FCA) 2023 crackdown.
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Osborne began advising Coinbase in 2024 and has been critical of the UK government's lack of robust digital asset regulations.
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While a poll suggested that the percentage of crypto ownership dropped in the UK, the share of respondents holding larger-value crypto portfolios increased.
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The UK's FCA launched three consultations on new crypto market rules covering exchanges, staking, lending and DeFi, with feedback due Feb. 12, 2026.
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Gemini says its prediction markets are now live nationwide via affiliate Gemini Titan after it secured a CFTC Designated Contract Market license
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The UK will reportedly introduce a bill on Monday to bring crypto under existing finance laws and overseen by its market regulator by October 2027.
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The UK’s financial watchdog has put British pound‑pegged stablecoin payments on its 2026 growth agenda, as London scrambles to keep its edge in digital finance.
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The partnership between the two advocacy groups was the latest move in efforts by US and UK policymakers to work closer together on crypto regulation.
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The Financial Conduct Authority asked for companies linked to digital assets to weigh in on policy proposals in February and March 2026.
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The donation came as the UK government considered banning crypto contributions to political parties under a proposed Elections Bill.
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A bill clarifying that property laws apply to crypto was given royal assent in the UK, with advocates hailing the move as giving crypto “a much clearer legal footing.”
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The UK is reportedly considering a ban on political crypto donations as Reform UK tops the polls, raising questions about funding transparency and potential foreign influence.
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