The UK Treasury Committee's recent report recommends regulating retail trading and investment in "unbacked crypto assets" like Bitcoin and Ether as gambling. While it acknowledges the potential benefits of cryptocurrencies, the report focuses on the risks they pose. Interestingly, this gambling regulation approach could open up a new possibility for crypto taxation in the UK, considering its tax-free stance on gambling. This could lead to a significant shift in the nation's fintech industry and global crypto landscape, but there's a catch...
Everything you need to know on UK regulating crypto as gambling α ▸ UK ▸ Regulation
Everything you need to know on UK regulating crypto as gambling
CryptoSlate's editorial team analyzed the full 28-page Treasury Committee report so you don't have to.
4 min read
Updated: May. 18, 2023 at 9:41 am UTC
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
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Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
