Faraj’s statement was made on May 29 at the Bitcoin Conference conference in Las Vegas. As part of his speech, he announced the future legislative initiatives of the Party of Reforms on Cryptoactives and Digital Finance.
In particular, to oblige the Bank of England to store bitcoins as a digital reserve, which, according to him, will make the UK the leader in the field of digital assets. In addition, to reduce the taxation rate of income from operations with digital assets from current 24% to 10% to stimulate investment in cryptocurrencies, as well as introduce at the legislative level of provisions that will make it illegal to restrict access to customers using cryptocurrencies.
Faraj emphasized that the purpose of the reform party is to turn London into one of the world’s largest cryptocurrency trading centers and make the UK “cryptocurrency superpower”. He criticized both the current Labor Government and the previous conservative guide for ignoring the potential of the cryptocurrency sector.
Earlier, the British financial regulation and supervision department (FCA) announced the intention to introduce a ban on the use of borrowed funds, including credit cards, for the purchase of cryptocurrencies by private investors. The cause of officials call the growing risks of the volatility of the crypto and a high degree of quediation of the inhabitants of the country.
Source: Bits
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