UK Chancellor's Autumn Statement Maintains Cryptocurrency Tax Rates

According to ChainCatcher, UK Chancellor Reeves announced in the Autumn Fiscal Statement on Wednesday that there will be no further increase in the capital gains tax rate, which had already impacted cryptocurrency investors last year. Azariah Nukajam, Gemini's UK Compliance Director, welcomed this decision, stating, "It's encouraging to see that cryptocurrencies won't be subject to new taxes, indicating they are being treated equally with other asset classes, ensuring their long-term viability as an alternative investment option." Nukajam also noted that recent legislative and regulatory announcements in the UK, along with this budget statement, suggest that "stricter regulations and tax transparency requirements, closer to the 'traditional finance' model, will proceed as planned."