Her Majesty’s Treasury has closed the 2021-2022 United Kingdom tax years on April 5, 2022. They announced that they would pave the wayThe U.K. could become a major global hub for crypto asset technology. The U.K., which was previously unfriendly to crypto investment, could be changing its strategy and making it more appealing for crypto investors. So what could be the outcome?

The Financial Conduct Authority (FCA), a financial regulatory body in the U.K., in its “Cryptoasset consumer research 2021” report, ShowsIn 2021, approximately 2.33 million U.K. adults held crypto. This represents a 21% increase year-over-year. With rising crypto adoption and increasing interest, it seems only natural that HM Treasury will review its crypto regulations. This is especially true when considering that more and more private investment within the U.K. is located in crypto assets: Out of the 17.3 million adults who own some sort of investment product, 2.3 million are invested in crypto (according to the FCA’s “Financial Lives” Survey).