UK Charity Commission Issues Guidance on Crypto Donations
The UK Charity Commission advises charities to be cautious and comply with the law when accepting crypto donations, as they can be volatile, risky, and hard to trace. Cryptocurrencies, such as bitcoin and non-fungible tokens (NFTs), are becoming more popular and mainstream, but they also pose significant challenges and risks for charities that accept them […]
UK tax forms to contain separate category for Crypto assets
His Majesty’s Treasury is adopting a separate category for crypto assets on tax return forms as the United Kingdom eventually establishes its own full crypto framework. The line should be included on tax forms in 2024–25. The U.K. Treasury released a report paper on the national budget for Spring 2023 on March 15. The document […]
UK authorities disagree over sale of crypto investment products ban
Authorities in the United Kingdom are disagreeing on whether it is appropriate to ban the sale, marketing, and distribution of derivatives and exchange-traded notes (ETNs) linked to cryptocurrencies. The ban was implemented in January 2021 by the Financial Conduct Authority (FCA), the top British regulator. Since that time, businesses are no longer permitted to provide […]
UK Prime Minister Receives Plaudits From Tech and Crypto Experts
Rishi Sunak, who used to be the UK’s finance minister and was known as “Dishy Rishy” for his cheap meal plan during the pandemic, is now UK Prime Minister, and the tech community is cautiously optimistic. After Lizz Truss failed to take over from disgraced Boris Johnson after 44 days, candidates had until 2 p.m. […]
UK financial services bill amendment regulates crypto activities
The Financial Conduct Authority will now have the authority to regulate operations involving crypto assets if the updated bill is approved. The bill already addressed stablecoin regulation from the outset. A change to the Financial Services and Markets Bill, which is now being debated in the UK Parliament , would allow for the regulation of […]