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United Kingdom vs Jamaica

Crypto regulation comparison

← Back to map | United Kingdom | Jamaica
United Kingdom

United Kingdom

Jamaica

Jamaica

Legal
No Regulation

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').

Jamaica has no specific cryptocurrency legislation. The Bank of Jamaica does not regulate or endorse crypto but has not banned it. Jamaica launched its own CBDC, JAM-DEX, in 2022 through the National Commercial Bank. Crypto exists in a legal gray area with no dedicated framework.

Tax Type Capital gains
Tax Type Unclear
Tax Rate 18-24%
Tax Rate N/A
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator FCA (Financial Conduct Authority), HMRC, Bank of England
Regulator BOJ (Bank of Jamaica), FSC
Stablecoin Rules Stablecoin regulation under Financial Services and Markets Act 2023; fiat-backed stablecoins to be regulated by FCA
Stablecoin Rules BOJ launched JAM-DEX CBDC; no private stablecoin regulation
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)
Key Points
  • No specific cryptocurrency legislation or regulatory framework
  • BOJ does not recognize crypto as legal tender but has not banned it
  • Jamaica launched the JAM-DEX CBDC in 2022
  • FSC Jamaica has not issued specific guidance on crypto asset regulation
  • Tax treatment of crypto gains is unclear due to lack of specific guidance
Sources
Sources