{"id":125664,"date":"2025-03-24T03:16:20","date_gmt":"2025-03-24T03:16:20","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125664"},"modified":"2025-03-24T03:16:20","modified_gmt":"2025-03-24T03:16:20","slug":"uk-should-tax-crypto-buyers-to-boost-stock-investing-economy-says-banker","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125664","title":{"rendered":"UK should tax crypto buyers to boost stock investing, economy, says banker"},"content":{"rendered":"

Source: Cointelegraph.com NewsThe UK should begin taxing crypto purchases in a bid to sway Britons to invest in local stocks, which could boost the country\u2019s economy, says the chair of investment bank Cavendish, Lisa Gordon.
\n\u201cIt should terrify all of us that over half of under-45s own crypto and no equities,\u201d Gordon told The Times in a March 23 report. \u201cI would love to see stamp duty cut on equities and applied to crypto.\u201d
\nCurrently, the UK lumps a 0.5% tax on shares listed on the London Stock Exchange, the country\u2019s largest securities market, which brings in around 3 billion British pounds ($3.9 billion) a year in tax revenue.
\nGordon added that a cut could sway people to put their savings into shares of local companies, which could then spark other firms to go public in the UK and help the economy.
\nIn comparison, she called crypto \u201ca non-productive asset\u201d that \u201cdoesn\u2019t feed back into the economy.\u201d
\n\u201cEquities provide growth capital to companies that employ people, innovate and pay corporation tax. That is a social contract. We shouldn\u2019t be afraid of advocating for that.\u201d
\nThe country\u2019s Financial Conduct Authority said in November that crypto ownership rose to 12% of adults, equivalent to around 7 million people. A majority of crypto owners, 36%, were under the age of 55 years old.
\nGordon said that many had \u201cshifted to saving rather than investing,\u201d which she claimed \u201cis not going to fund a viable retirement.\u201d
\nA 2022 FCA survey found that 70% of adults had a savings account, while 38% either directly held shares or held them through an account allowing nearly 20,000 British pounds ($26,000) of tax-free savings a year \u2014 around three in four 18-24 years olds held no investments.
\nA quarter of 18-25 year olds and a third of 25-44 year olds held any investment in 2022. Source: FCABut in a follow-up survey, the regulator reported that in the 12 months to January 2024, the cost of living crisis had seen 44% of all adults either stop or reduce saving or investing, while nearly a quarter used savings or sold their investments to cover day-to-day costs.
\nGordon is a member of the Capital Markets Industry Taskforce, a group of industry executives aiming to revive the local market, which Cavendish would benefit from as it advises companies on how to navigate possible public offerings.
\nRelated: Will new US SEC rules bring crypto companies onshore?
\nConsulting giant EY reported in January that the London stock market had one of its \u201cquietest years on record,\u201d with just 18 companies listing last year, down from 23 in 2023.
\nAt the same time, EY said 88 companies delisted or transferred from the exchange, with many saying they moved due to \u201cdeclining liquidity and lower valuations compared to other markets\u201d such as the US.
\nHowever, Gordon claimed the UK is a \u201csafe haven\u201d compared to markets such as the US, which has lost trillions of dollars in its stock markets due to President Donald Trump\u2019s tariff threats and fears of a recession.
\nCrypto markets have also slumped alongside US equities, with Bitcoin (BTC) trading down 11% over the past 30 days and struggling to maintain support above $85,000 since early March.
\nIn the past 24 hours, at least, Bitcoin is up 2%, trading around $85,640.
\nMagazine: Memecoins are ded \u2014 But Solana \u2018100x better\u2019 despite revenue plunge\u00a0Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Source: Cointelegraph.com NewsThe UK should begin taxing crypto purchases in a bid to sway Britons to invest in local stocks, which could boost the country\u2019s economy, says the chair of… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125664"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125664"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125664\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125664"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}