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Crypto tax exemption for foreign investors in the UK

As part of its plan to become a "crypto hub", the UK eases taxes for foreign investors in Bitcoin and other crypto assets.

By Mike Hesp
• 1 min read
Crypto tax exemption for foreign investors in the UK

As part of its plan to become a "crypto hub", the UK eases taxes for foreign investors in Bitcoin and other crypto assets.

The UK has secured tax exemptions for certain crypto investors that take effect from January 1, 2023, according to a December decision. The measures are part of PM Rishi Sunak's plan to turn the region into a "crypto hub".

This means foreign investors who buy crypto through local investment firms or brokers will be exempt from the country's tax regime. A similar framework already makes the country one of the world's biggest centers for traditional finance. Now cryptocurrencies will also be included.

Citizens of the country are already subject to certain tax rules regarding cryptocurrencies. With the "Financial Services and Markets Bill" currently being debated in Parliament, the country aims to further promote the regulation of crypto assets.

Taxpayers in the country should gain more clarity on DeFi through the regulation.

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