The good, the bad and the ugly -Breaking
Her Majesty the Queen’s Treasury announced that the United Kingdom’s 2021-2022 tax year ended on April 5, 2022. They announced that they would pave the wayTo become a worldwide hub of crypto asset technology, the U.K. The U.K., which was previously unfriendly to crypto investment, could be changing its strategy to make crypto more appealing. What are some possible scenarios?
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. It is only natural that HM Treasury would review its crypto regulations in light of rising interest and the potential adoption of crypto. 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).
Tony DhanjalKoinly’s tax head, Jeremy, is well-known as a crypto tax expert and thought leader. With over twenty years experience in the financial services industry as well as investment banking, public practice and blue chip companies, he is qualified.