Opinion
Current age verification drives users to VPNs and sketchy sites. Blockchain can prove you’re over 18 without exposing your identity to data breaches.
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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.
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The UK sanctioned Kyrgyz banks, crypto exchanges and individuals tied to Russia’s ruble-backed stablecoin.
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North Wales Police said a scammer impersonating UK law enforcement stole $2.8 million in Bitcoin in a “highly targeted and advanced scam.”
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Nearly half of UK crypto investors face blocked or delayed payments from their banks, raising concerns that Britain is falling behind global rivals in digital assets.
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Concordium launched a mobile app using zero-knowledge proofs for anonymous age verification as UK rules fuel demand for privacy-safe solutions.
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Metaplanet and the UK’s The Smarter Web Company added nearly $100 million in Bitcoin on Tuesday, boosting their positions among the largest public corporate BTC holders.
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TRM Labs says the Embargo ransomware group has moved over $34 million in ransom-linked crypto since April, targeting US hospitals and critical infrastructure.
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Satsuma Technology secured $217.6 million in its latest raise, with over half settled in Bitcoin, drawing support from top crypto funds and UK institutional investors.
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UK-listed Smarter Web Company raised $21 million via Bitcoin-denominated bonds, backed by Tobam, offering a new model for crypto-aligned fundraising.
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The Payments Association’s Riccardo Tordera told Coinpectra that lifting the ETN ban allowed individual investors to make their own choices at their own risk.
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A police officer’s 50-BTC theft was unraveled by blockchain tracking. Investigators traced the funds and brought him to justice.
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Former UK Chancellor and current Coinbase adviser George Osborne says the UK is falling behind in the cryptocurrency market, particularly when it comes to stablecoins.
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After banning retail access to crypto ETNs and derivatives in 2021, the FCA has reversed its approach in favor of ETN access for retail.
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In 2025, governments hold over 463,000 BTC, with the US and China leading, while countries like Bhutan, Iran and the UK quietly build strategic reserves.
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Coinbase’s satirical video takes aim at Britain’s struggling economy as data shows almost half of UK adults are financially vulnerable.
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