Britain Financial News

Monica Gogna is a partner and UK head of financial regulation at EY Law

However, the UK was far from alone in seeing a drop off and remains the centre of European fintech investment, with firms attracting more funding than their counterparts in the rest of Emea combined.Karim Haji, UK and Emea head of financial services, KPMG, says: "Despite the drop in both value and volume, it was a strong year for the UK fintech industry. The UK is a major global player, with investment in UK fintech only behind that of the US and Australia."Total global fintech investment fell to $164.1 billion across 6006 deals in 2022, after reaching a record $238.9 billion across 7321 deals the previous year.Payments remains the strongest area of fintech investment globally, with $53.1 billion in investment compared to US$57.1 billion in 2021; Regtech was the only sector to buck the downward trend, with investment in the space rising from US$11.8 billion in 2021 to a record $18.6 billion.In contrast, investment in crypto and blockchain fell from $30 billion in 2021 to $23.1 billion in 2022.

The Financial Conduct Authority (FCA) of the United Kingdom is cracking down on unregistered cryptocurrency ATMs.

The pay gap between Black and white employees at Barclays increased last year, despite the UK lender bolstering the number of Black managing directors in 2022.

UK authorities have raided several properties around Leeds suspected of hosting illegally operated cryptocurrency automatic teller machines (ATMs).

Barclays' investment bank profit slipped by 23% last year as the UK lender's dealmakers followed rivals with a sharp drop in fees.

Barclays paid average bonuses to top employees in its investment bank of £642,000 last year, a sharp decrease on last year as banks have taken an axe to compensation amid a slump in deal activity. 

LONDON — Barclays on Wednesday reported a full-year net profit of £5.023 billion ($6.07 billion) for 2022, beating consensus expectations of £4.95 billion but suffering a 19% fall from the previous year's restated £6.2 billion in part due to a costly trading blunder in the U.S.

LONDON—The U.K.’s economy returned to growth as 2022 drew to a close, partly thanks to soccer fans driving up sales at pubs during the World Cup. But many economists still expect a recession and several years of anemic expansion. 

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LONDON—The U.K.’s economy returned to growth as 2022 drew to a close, partly thanks to soccer fans driving up sales at pubs during the World Cup. But many economists still expect a recession and several years of anemic expansion. 

The U.K. Tax Reform Council has launched a campaign against the Bank of England's plan to introduce a central bank digital currency (CBDC). The non-profit organization warns that such a move could seriously harm individual privacy and lead to intrusive changes to the taxation system.

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The United Kingdom’s financial regulator, Financial Conduct Authority (FCA), is coming for unregistered cryptocurrency automated teller machines (ATMs).

Indian authorities once again demonstrated their tough stance on cryptocurrencies with a preemptive ban on crypto advertising and sponsorships in the local women’s cricket league. 

The FCA in March last year ordered the closure of all crypto ATMS in operation across the UK. At the time, it was estimated that there were circa.

cryptocurrency transactions and holdings. As the popularity and use of cryptocurrencies continue to grow, countries around the world are grappling with how to regulate and tax these digital assets. Some countries have adopted favourable tax policies towards cryptocurrencies, while others have implemented strict regulations. In this article, we will examine the crypto tax policies of several nations and see how they handle this evolving asset class.United States of America In the United States, cryptocurrencies are treated as property for tax purposes, similar to property taxes. Transactions involving cryptos, such as selling for fiat currency, token airdrops, mining, or staking, are all taxable with rates ranging from 0-37% for capital gains and income tax. However, holding crypto for the long term or buying with fiat currency is not taxable. Taxpayers can choose to calculate their crypto taxes using either the FIFO (first in, first out) or LIFO (last in, first out) method. Capital gains and losses, cost basis, and keeping records of transactions is important to keep in mind for tax reporting.

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LONDON—The U.K.’s economy returned to growth as 2022 drew to a close, partly thanks to soccer fans driving up sales at pubs during the World Cup. But many economists still expect a recession and several years of anemic expansion. 

Australia-based Bitcoin (BTC) mining company, Iris Energy, revealed it will nearly triple its mining capacity with the addition of thousands of mining rigs.