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“To build upon the U.K.’s position as an investment management hub, this exemption has been extended to include crypto assets, so that funds which include them Prime Minister Rishi Sunak has said that he wants the U.K. to be a global crypto hub. The Treasury announced that it would extend its existing tax relief to the crypto In an attempt to make the UK a global cryptocurrency hub, the government has extended tax breaks for investment managers. Part of the financial services reforms His Majesty’s Treasury has clarified that the reforms include an extension for the current tax break that enables investors to avail the services of a UK-based manager The U.K. has confirmed it will extend tax breaks for investment managers to cover crypto assets, a step in Prime Minister Rishi Sunak's plan make the country a crypto hub. The UK has enforced a tax exemption for foreign investors purchasing crypto through local investment managers or brokers starting from Janu. To make the UK

UK Extends Tax Breaks for Investment Managers to Include Crypto, Boosting Crypto Hub Ambitions

The U.K. is solidifying its commitment to becoming a global cryptocurrency hub by extending significant tax breaks to investment managers handling crypto assets. This move, spearheaded by Prime Minister Rishi Sunak, aims to attract foreign investment and position the UK as a leader in the rapidly evolving digital asset landscape.

Crypto Tax Break: A Key Step in Sunak's Plan

As part of broader financial services reforms, His Majesty’s Treasury has clarified that the reforms include an extension for the current tax break that enables investors to avail the services of a UK-based manager. The UK has enforced a tax exemption for foreign investors purchasing crypto through local investment managers or brokers starting from January. The Treasury announced that it would extend its existing tax relief to the crypto in an attempt to make the UK a global cryptocurrency hub, the government has extended tax breaks for investment managers.

Prime Minister Rishi Sunak has said that he wants the U.K. to be a global crypto hub, and this tax break extension is a key component of that vision. By creating a more favorable tax environment, the UK aims to encourage fund managers to incorporate crypto assets into their portfolios and manage these assets from within the UK.

Investment Management Hub Advantage

“To build upon the U.K.’s position as an investment management hub, this exemption has been extended to include crypto assets, so that funds which include them benefit from the same tax advantages as those dealing with traditional assets. This is a significant step in attracting foreign capital and boosting the UK's financial services sector.

Attracting Foreign Investment in Crypto

The U.K. has confirmed it will extend tax breaks for investment managers to cover crypto assets. This creates a compelling incentive for international investors to utilize UK-based investment managers, bolstering the UK's position in the global crypto market and fostering innovation. The change will allow foreign investors using UK-based managers to avoid certain taxes, creating a more level playing field and encouraging investment in the UK crypto sector. To make the UK a more attractive place to invest, the government continues to work on clear regulatory guidelines and policies for the crypto industry.

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