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British investment bank executives suggest taxing cryptocurrencies to guide funds to flow to stock markets
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2025-03-24 12:02 8,541
On March 24, Lisa Gordon, chairman of the British investment bank Cavendish, proposed taxes on purchasing cryptocurrencies to encourage more investors to invest in the UK stock market. She suggested introducing a cryptocurrency transaction tax similar to the 0.5% stamp duty on London Stock Exchange stocks. Gordon believes the move could shift investments to stocks, helping to fund innovative UK companies and supporting a wider economy. She stressed that more than half of the British under 45 own cryptocurrencies, not stocks, and believed that redistribution of some of the capital could increase economic productivity. Although cryptocurrency holdings are growing, Gordon calls it a "non-productive asset" and contributes little to the economy. She also mentioned that due to the cost-of-living crisis, many people are shrinking their investments, and therefore there is a need to guide limited capital flows to assets that can drive economic growth. (Jin Shi)
Keywords: Bitcoin
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