A Proposal for Bitcoin and Cryptocurrency has Come from the UK Banking Giant!

While many steps are being taken in the name of the adoption of Bitcoin and cryptocurrencies in the USA and countless other countries, steps against cryptocurrencies continue to be taken in some countries.

One of these countries has also become England.

At this point, a bank manager from Cavendish, one of the important investment banks in England, suggested imposing taxes on cryptocurrencies to revitalize the UK’s economy and increase local stock investments.

Speaking to The Times, Cavendish president Lisa Gordon described crypto as non-productive assets that do not contribute to economic growth.

At this point, Gordon argued that a tax should be applied to cryptocurrency purchases in England to revive the country’s economy.

Gordon stated that more than half of the country’s young citizens are investing in cryptocurrencies but do not own stocks, calling this situation concerning.

Gordon proposed shifting the stamp duty from stocks to cryptocurrencies to encourage investment in local companies. According to Gordon, this policy could boost economic growth by enabling more companies to go public in the UK.

"The fact that more than half of those under 45 own cryptocurrencies and do not have stocks should scare us all. I would really like to see the stamp duty on stocks reduced and taxes applied to cryptocurrencies.

Cryptocurrency taxation and reduced stock tax in the UK could boost economic growth and promote job opportunities.

Contrary to Cavendish president Lisa Gordon’s idea of cryptocurrency taxation in the UK, the US is currently discussing zero cryptocurrency tax possibilities.