News

UK Will Facilitate Taxation For Cryptocurrency Companies

The UK has indicated that it will expand tax advantages for investment managers to encompass crypto assets.

Chancellor of the Exchequer Jeremy Hunt announced a package of 30 regulatory measures for the UK’s financial industry. The creation of a digital pound, experiments with blockchain, and more investment in crypto firms all made the cut.

The Treasury also stated that it will establish a “sandbox” to try out novel financial market infrastructures next year and that it will hold a consultation on a digital pound in the coming weeks.

Rishi Sunak, now prime minister, stated in April that he wished to make the UK a worldwide crypto hub.

The government has committed to publishing a consultation on the establishment of a central bank digital currency for the United Kingdom. As several governments across the world hurry to produce their own central bank-backed digital coin, the Treasury and the Bank of England continue to examine the digital pound.

The Investment Management Exemption will be extended to crypto, encouraging foreign investors to invest in the UK’s crypto economy.

The package also includes consumer protection from developing technology. The government intends to modify the Consumer Credit Act of 1974 in order to foster innovation and reduce expenses.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Gate.io Launches New USDE Wealth Management Products, Pioneering a High-Yield and High-Liquidity Model

This product launch marks an innovative step forward for Gate.io in the stablecoin wealth management…

34 minutes ago

Franklin Templeton FOBXX Now Available On Ethereum

Franklin Templeton FOBXX is now available on Ethereum, extending its presence to seven blockchain networks,…

38 minutes ago

Dora Factory Vota Launch Enables Private Decentralized Governance

Dora Factory Vota Launch uses MACI technology to enable private decentralized governance and encrypted on-chain…

40 minutes ago

Bhutan Government Moves Bitcoin to Binance Exchange

Bhutan moved a significant amount of Bitcoin to Binance, likely to take profits, amid rising…

55 minutes ago

New Platform CoreFi Strategy Launched to Boost Bitcoin Returns

Canadian firm DeFi Technologies introduced the CoreFi Strategy to provide leveraged, regulated Bitcoin and CORE…

2 hours ago

10 Best Cryptocurrencies to Buy in November 2024 Before Major Bull Run Swings into Action

Cryptocurrency has come a long way since its early days. With the rise of Bitcoin…

3 hours ago

This website uses cookies.