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Barbados vs United Kingdom

Crypto regulation comparison

← Back to map | Barbados | United Kingdom
Barbados

Barbados

United Kingdom

United Kingdom

Legal
Legal

Barbados has a favorable environment for cryptocurrency. With no income or capital gains tax, crypto activities are not specifically taxed. The Financial Services Commission oversees financial markets. Barbados has been exploring blockchain for government services.

The UK has an evolving and increasingly comprehensive crypto regulatory framework. The FCA registers crypto firms for AML/CFT compliance and has imposed strict financial promotion rules requiring risk warnings and banning incentives. HMRC treats crypto as property subject to Capital Gains Tax (10% basic rate, 20% higher rate, with £3,000 annual exemption from 2024/25). The Financial Services and Markets Act 2023 brought crypto assets into the UK regulatory perimeter, and HM Treasury is developing rules for a full crypto regime including exchange licensing, stablecoin regulation, and a potential UK CBDC ('Britcoin').

Tax Type No tax
Tax Type Capital gains
Tax Rate 0%
Tax Rate 18-24%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Central Bank of Barbados, Financial Services Commission
Regulator FCA (Financial Conduct Authority), HMRC, Bank of England
Stablecoin Rules No specific stablecoin regulation
Stablecoin Rules Stablecoin regulation under Financial Services and Markets Act 2023; fiat-backed stablecoins to be regulated by FCA
Key Points
  • No income tax or capital gains tax applies to crypto
  • Financial Services Commission provides general oversight of financial markets
  • Government has explored blockchain for land registry and identity services
  • Crypto businesses operate under general financial services regulations
  • Growing fintech sector with interest in digital asset innovation
Key Points
  • FCA AML registration required for all crypto firms operating in the UK
  • Capital Gains Tax: 10% (basic rate) or 20% (higher rate); £3,000 annual exempt amount (2024/25)
  • Financial promotions regime (2023): strict rules on crypto advertising, risk warnings mandatory
  • Financial Services and Markets Act 2023 brings crypto into regulatory perimeter
  • HM Treasury developing comprehensive crypto regulatory regime (exchange licensing, conduct rules)
Sources
Sources