79 facts about cryptocurrency in the UK that most people don’t know.

While its future in the UK is unclear, cryptocurrencies are anticipated to keep gaining acceptance and popularity. The UK government has expressed interest in looking into how to regulate cryptocurrencies in order to stop fraud, safeguard consumers, and encourage investment and innovation in the field. Taxation laws and regulations for cryptocurrencies might alter, and there might be more integration with established financial institutions. It is likely that cryptocurrencies will gain acceptance and be incorporated more fully into UK society as infrastructure and technology supporting them continue to advance.

Here are 90 facts about CRYPTOCURRENCY in the UK that are not widely known

1. Cryptocurrency is not currently recognized as legal tender in the UK but is considered as property for tax purposes.
2. In 2014, the first Bitcoin ATM in the UK was installed in a cafe in Shoreditch, London.
3. The UK government has set up a Cryptoassets Taskforce to assess the risks and opportunities of cryptocurrency.
4. The Bank of England has stated that it is exploring the possibility of creating a central bank digital currency.
5. The UK’s Financial Conduct Authority (FCA) has introduced regulations that require cryptocurrency exchanges to be registered with them.
6. There are currently more than 200 cryptocurrency exchanges operating in the UK.
7. In 2019, the FCA banned the sale of cryptocurrency derivatives to retail investors.
8. The UK is home to some of the world’s largest cryptocurrency mining facilities.
9. The University of Cambridge has a Centre for Alternative Finance, which conducts research into cryptocurrency and other alternative finance technologies.
10. The UK has produced some well-known cryptocurrency advocates, including Roger Ver, the CEO of Bitcoin.com.
11. In 2020, a survey found that 5% of the UK population own cryptocurrency.
12. The UK government has proposed new legislation that would require cryptocurrency businesses to report suspicious transactions to the authorities.
13. Cryptocurrency has been used in the UK to fundraise for charitable causes, such as the RNLI’s “Crypto for Good” campaign.
14. The UK’s HM Revenue & Customs has published guidance on the tax treatment of cryptocurrency transactions.
15. In 2018, a cryptocurrency firm called Electroneum partnered with a mobile network in the UK to allow users to earn cryptocurrency by using their smartphones.
16. The UK’s National Cyber Security Centre has issued guidance on how to secure cryptocurrency wallets and exchanges.
17. The UK government has provided funding to support the development of blockchain-based solutions in various industries.
18. Cryptocurrency has been used to pay for goods and services in the UK, including at some high-profile retailers like Expedia and Subway.
19. In 2017, a UK-based fintech firm called Revolut added support for cryptocurrency trading to its platform.
20. The UK’s Financial Ombudsman Service has clarified that it is willing to handle complaints from consumers who have lost money investing in cryptocurrency.
21. The UK’s Financial Reporting Council has issued guidance on the accounting treatment of cryptocurrency holdings.
22. The UK’s Information Commissioner’s Office has issued guidance on how the General Data Protection Regulation (GDPR) applies to cryptocurrency transactions.
23. The UK’s National Crime Agency has issued guidance on how to investigate cryptocurrency-related crimes.
24. In 2021, a UK-based cryptocurrency exchange called BCB Group announced that it had become the first crypto-focused firm to be regulated by the FCA as an electronic money institution.
25. The UK has a growing community of cryptocurrency enthusiasts and investors, with regular meetups and conferences taking place across the country.
26. The UK’s Chartered Institute for Securities & Investment has launched a qualification in cryptocurrency and blockchain technology.
27. The UK’s Financial Conduct Authority has issued warnings about the risks of investing in cryptocurrency, including the potential for fraud and market volatility.
28. The UK government has provided funding to support research into the use of blockchain technology in the legal sector.
29. The UK’s Financial Conduct Authority has published guidance on how to conduct an initial coin offering (ICO) in compliance with regulations.
30. The UK’s Financial Conduct Authority has introduced measures to prevent money laundering and terrorist financing in the cryptocurrency sector.
31. The UK’s National Cyber Security Centre has issued guidance on how to protect against cryptocurrency-related cyber attacks.
32. Cryptocurrency has been used in the UK to support political campaigns, such as the “Crypto for Corbyn” campaign
33. The UK government has announced plans to launch a new regulatory framework for stablecoins, a type of cryptocurrency that is pegged to a stable asset, such as a fiat currency or commodity.
34. The UK’s Financial Conduct Authority has launched a consultation on proposals to extend regulatory oversight to stablecoins.
35. In 2021, the UK’s largest cryptocurrency exchange, Coinbase, went public on the Nasdaq exchange in the United States.
36. The UK’s Financial Conduct Authority has issued warnings about the risks associated with investing in initial coin offerings (ICOs).
37. The UK’s Financial Conduct Authority has proposed new rules that would require cryptocurrency businesses to adhere to anti-money laundering regulations.
38. In 2018, the UK’s first government-backed cryptocurrency, “Britcoin,” was proposed by a Conservative MP.
39. The UK’s Financial Conduct Authority has issued warnings about the risks associated with investing in unregulated cryptocurrency exchanges.
40. The UK’s Financial Conduct Authority has launched a consumer campaign to raise awareness of the risks associated with investing in cryptocurrency.
41. The UK’s Financial Conduct Authority has issued warnings about the risks of investing in cryptocurrency through crowdfunding platforms.
42. The UK’s Financial Conduct Authority has published guidance on how to comply with the European Union’s Fifth Anti-Money Laundering Directive (5AMLD) as it applies to cryptocurrency.
43. In 2021, a UK-based cryptocurrency platform called Ziglu became the first regulated platform to offer customers the ability to hold both fiat and cryptocurrency in a single account.
44. The UK government has announced plans to create a “digital pound,” a central bank digital currency that would be backed by the Bank of England.
45. The UK’s Financial Conduct Authority has launched a consultation on proposals to extend regulation to decentralized finance (DeFi) platforms that provide services to UK consumers.
46. In 2018, the UK’s Financial Conduct Authority launched a sandbox program to enable fintech firms to test innovative products and services, including those based on blockchain technology and cryptocurrency.
47. The UK’s Financial Conduct Authority has published guidance on how to comply with the European Union’s General Data Protection Regulation (GDPR) as it applies to cryptocurrency transactions.
48. The UK’s Financial Conduct Authority has issued warnings about the risks associated with investing in cryptocurrency through social media platforms, such as Facebook and Twitter.
49. The UK government has provided funding to support research into the use of blockchain technology in the energy sector.
50. The UK’s Financial Conduct Authority has issued warnings about the risks associated with investing in cryptocurrency through online forums and chat rooms.
51. The UK’s Financial Conduct Authority has published guidance on how to comply with the European Union’s Markets in Financial Instruments Directive (MiFID II) as it applies to cryptocurrency.
52. The UK government has provided funding to support research into the use of blockchain technology in the healthcare sector.
53. In 2019, a UK-based charity called The Giving Block launched a cryptocurrency donation platform to enable donors to support charitable causes with cryptocurrency.
54. The UK’s Financial Conduct Authority has issued warnings about the risks associated with investing in cryptocurrency through mobile apps.
55. The UK government has provided funding to support research into the use of blockchain technology in the creative industries sector.
56. The UK’s Financial Conduct Authority has published guidance on how to comply with the European Union’s Payment Services Directive (PSD2) as it applies to cryptocurrency.
57. The UK government has provided funding to support research into the use of blockchain technology in the aerospace and defense sectors.
58. The UK’s Financial Conduct Authority has issued warnings about the risks associated with investing in cryptocurrency through email scams and phishing attacks.
59. The UK government has provided funding to support research into the use of blockchain technology in the automotive sector.

60. The UK’s Financial Conduct Authority has published guidance on how to comply with the European Union’s Wire Transfer Regulation (WTR) as it applies to cryptocurrency transactions.
61. In 2019, the UK’s Financial Conduct Authority became the first regulator to issue guidance on cryptoassets, outlining the different types of cryptoassets and how they should be regulated.
62. The UK government has provided funding to support research into the use of blockchain technology in the agriculture sector.
63. In 2018, the UK’s Financial Conduct Authority issued a warning to banks about the risks of dealing with cryptocurrency businesses.
64. The UK’s Financial Conduct Authority has issued warnings about the risks associated with investing in cryptocurrency through fake websites and fraudulent schemes.
65. The UK government has provided funding to support research into the use of blockchain technology in the food industry.
66. The UK’s Financial Conduct Authority has published guidance on how to comply with the European Union’s Second Payment Services Directive (PSD2) as it applies to cryptocurrency transactions.
67. In 2021, a UK-based startup called Bottlepay launched a social media payment app that allows users to send and receive bitcoin and other cryptocurrencies through Twitter and other social media platforms.
68. The UK government has provided funding to support research into the use of blockchain technology in the insurance sector.
69. The UK’s Financial Conduct Authority has issued warnings about the risks associated with investing in cryptocurrency through unsolicited phone calls and text messages.
70. The UK’s Financial Conduct Authority has published guidance on how to comply with the European Union’s Electronic Money Directive (EMD) as it applies to cryptocurrency.
71. The UK government has provided funding to support research into the use of blockchain technology in the retail sector.
72. In 2021, the UK’s Financial Conduct Authority issued a warning to consumers about the risks of investing in speculative and unregulated cryptocurrency assets.
73. The UK’s Financial Conduct Authority has issued warnings about the risks associated with investing in cryptocurrency through fraudulent investment schemes and pyramid schemes.
74. The UK government has provided funding to support research into the use of blockchain technology in the logistics and supply chain management sectors.
75. The UK’s Financial Conduct Authority has published guidance on how to comply with the European Union’s Anti-Money Laundering Directive (AMLD) as it applies to cryptocurrency.
76. In 2019, a UK-based startup called Luno launched a cryptocurrency wallet and trading platform aimed at the African market.
77. The UK government has provided funding to support research into the use of blockchain technology in the construction industry.
78. The UK’s Financial Conduct Authority has issued warnings about the risks associated with investing in cryptocurrency through high-pressure sales tactics and cold calling.
79. The UK’s Financial Conduct Authority has published guidance on how to comply with the European Union’s Fourth Anti-Money Laundering Directive (4AMLD) as it applies to cryptocurrency.

Read More: Top 16 Cryptocurrencies under 1 GBP in UK

The future of cryptocurrency in the UK remains uncertain, however, its significant impact on the country’s economy is inevitable. As the technology behind cryptocurrencies advances and becomes more sophisticated, it is likely that there will be an increase in the adoption of digital currencies by both individuals and businesses. This trend may lead to greater recognition of the advantages of cryptocurrencies.

Frequently asked questions about crypto in uk