United Kingdom News

There are no strict regulations on Bitcoin in UK. Bitcoin has no established legal status but is commonly treated as a foreign currency for most purposes, including value-added and goods-and-service taxes. Cryptocurrencies profits and losses are subject to capital gains tax. However, the UK government is planning on implementing some legal procedures in the cryptocurrency market. Their primary goal is to require UK Bitcoin exchanges to conduct due diligence in relation to customers and include cryptocurrency platforms in anti-money laundering and counter-terrorism financing policies. The UK has issued a warning about the risks of investing in ICOs and cryptocurrencies, though it has yet to establish any direct rules concerning it. Still, it was stated multiple times that the United Kingdom is working on cryptocurrency regulations and has no intentions to leave it in a legal gray area.

Britain’s tax agency is inviting contract applications for a tech tool to help combat crypto tax evasion.
Britain’s Tax Agency Offering Contract for Tech to Combat Crypto Tax Evasion
Andrew Calderaro
Follow up
As India’s Supreme Court inches closer to giving its final verdict on RBI’s crypto ban, experts believe the judgment will favor crypto.
Crypto Fights for Freedom in India’s Supreme Court, Critics Cite Risk
Shiraz Jagati
As the 5AMLD is signed into law, turbulent times lie ahead for the crypto industry, experts discuss the changes.
New EU AML Compliance Laws Could Disrupt the Crypto Industry
Joseph Birch
Follow up
Bitcoin scam ads featuring Martin Lewis appear on Instagram less than a year after Lewis settled a defamation suit with Facebook.
More Bitcoin Scam Ads With Martin Lewis on Instagram — Can We Get a Filter for That?
Osato Avan-Nomayo
Britain’s Financial Conduct Authority now monitors anti-money laundering and counter terrorism financing for companies carrying out cryptocurrency-related activ...
UK Financial Watchdog FCA Now Supervises AML/CTF Compliance of Crypto Businesses
Ana Alexandre
Fake Martin Lewis Bitcoin scam ads have been spotted on Instagram after Lewis settled a defamation lawsuit against Facebook in 2019.
Bitcoin Scam Ads Featuring Martin Lewis Now Spotted on Instagram
Helen Partz
Law enforcement requests to cryptocurrency exchange Kraken hit their highest ever volume in 2019, rising 49% to 710 as compared with 475 the previous year.
Law Enforcement Requests to Kraken Hit All-Time-High, Up 49% in 2019
Marie Huillet
An alleged “The Dark Overlord” hacking collective member has been extradited from the U.K. to face charges in the United States.
Alleged Hacker Extradited to Face US Charges Over Corporate Extortion Racket
Jack Martin

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