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United Kingdom vs Cambodia

Crypto regulation comparison

← Back to map | United Kingdom | Cambodia
United Kingdom

United Kingdom

Cambodia

Cambodia

Legal
Restricted

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').

Cambodia has a restrictive stance on cryptocurrency. The National Bank of Cambodia prohibits banks and financial institutions from dealing in crypto, and unlicensed crypto businesses are illegal. However, the government has shown interest in blockchain technology and launched Bakong, a CBDC-like payment system.

Tax Type Capital gains
Tax Type Unclear
Tax Rate 18-24%
Tax Rate N/A
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator FCA (Financial Conduct Authority), HMRC, Bank of England
Regulator National Bank of Cambodia (NBC), SERC
Stablecoin Rules Stablecoin regulation under Financial Services and Markets Act 2023; fiat-backed stablecoins to be regulated by FCA
Stablecoin Rules Bakong (CBDC) promoted as alternative; private stablecoins not specifically regulated
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
  • NBC issued a 2018 directive prohibiting banks from dealing in cryptocurrency
  • Unlicensed crypto exchanges and trading platforms are banned
  • Bakong digital payment system launched in 2020 using blockchain technology
  • SERC (Securities and Exchange Regulator) has discussed regulating crypto as digital assets
  • Despite restrictions, peer-to-peer crypto usage remains significant
Sources
Sources