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Brunei vs United Kingdom

Crypto regulation comparison

← Back to map | Brunei | United Kingdom
Brunei

Brunei

United Kingdom

United Kingdom

Restricted
Legal

Brunei has no specific cryptocurrency legislation. The BDCB (formerly AMBD) stated in 2017 that crypto is not legal tender and not regulated, warning the public about risks. Crypto is not banned but has no legal protection. No tax guidelines address crypto specifically.

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 None
Tax Type Capital gains
Tax Rate N/A
Tax Rate 18-24%
Exchanges No No
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Brunei Darussalam Central Bank (BDCB, formerly AMBD)
Regulator FCA (Financial Conduct Authority), HMRC, Bank of England
Stablecoin Rules No stablecoin regulation
Stablecoin Rules Stablecoin regulation under Financial Services and Markets Act 2023; fiat-backed stablecoins to be regulated by FCA
Key Points
  • BDCB stated in 2017 that crypto is not legal tender and not regulated
  • Crypto not recognized as legal tender
  • No specific cryptocurrency legislation
  • Financial institutions discouraged from dealing in crypto
  • No tax guidelines specifically address cryptocurrency
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