News
The move comes as a debate is unfolding in the UK on whether users should be allowed to buy cryptocurrencies with credit cards.
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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
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.
16109 - 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.
2171 - 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.
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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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Zebec’s move reflects a shift toward embedding compliance at the protocol level, with firms facing more stringent regulatory requirements.
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BCP Technologies CEO says its new pound-backed stablecoin tGBP might be considered a “live proof-of-concept for future FCA stablecoin regulation.”
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Revolut’s new job listing reveals plans to build a crypto derivatives business from scratch, leveraging its 50 million-strong global customer base.
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The new launch expands IG’s existing cryptocurrency offering, as the company has previously offered crypto-based contracts for difference.
9929 - News
The party leader leaned into pro-crypto talking points at the Bitcoin 2025 conference, announcing plans to introduce a digital asset bill if Reform UK wins in the next election.
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The UK’s Financial Conduct Authority has launched a consultation on new rules for stablecoin issuers and crypto custody providers.
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The United Kingdom has seen the sharpest growth in new crypto users despite the country’s not adopting crypto regulation or its own “MiCA equivalent.”
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UK judges rejected a $11.9 billion claim from BSV investors, ruling that they could have mitigated losses after Binance and others had delisted the token.
10410 - Analysis
Several countries have announced multibillion-dollar plans to build out the world’s crypto hub, but five of the world’s financial centers stand out.
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UK crypto firms will need to report customer transactions on their platforms from 2026 onward as part of an initiative to strengthen crypto tax reporting practices.
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