UK should lower crypto tax rate to encourage growth – MP…


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712 shares, 853 points


UK should lower crypto tax rate to encourage growth – MP Matt Hancock


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853
712 shares, 853 points

30 Comments

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  1. Don’t make the mistake of thinking tories aren’t scum just because they occasionally say something you like.

  2. One of the worse things about being in crypto is how it involves the absolute worst people, musk, Hancock, cruz..

  3. Artificially inflating assets via government policy isn’t the way to do things.

    Unpopular opinion, but crypto should have to pay the normal rate of taxes, just like any other asset class.

    We’ve seen this problem in Australia with property tax benefits for decades, it has completely ruined prices and effectively manipulated the markets.

    Treat everything fairly and let the markets determine the value.

    (And yes, this would also mean removing the tax cuts in place for property investment too etc)

  4. tldr; Former UK Secretary of State for Digital, culture, music, and sport, Matt Hancock, said the UK must lower crypto taxes to allow digital innovation to grow. HMRC has taken a “revenue-maximizing approach,” Hancock said. He also argued that some laws should be rewritten to accommodate innovations within the crypto industry.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  5. Improving taxes on airdrops would be a good start, otherwise if it immediately tanks you are left with nothing but a tax burden. Especially if you don’t have any choice in receiving the airdrop.

  6. Yep, again, by reducing Crypto Tax we are effectively giving the rich more.

    Instead, why not lower the CGT or Crypto Tax on those earning less than £80,000

  7. waoh, really? Im surprised lol, they want to turn UK in second swiss, where does the money come from?

    WHO THE FUCK CARES!?!?!