Is trading cryptocurrency legal?
One of the main concerns that many investors have is whether or not buying and selling cryptocurrency is legal and it is perfectly understandable why.
In recent years, cryptocurrencies have been launched into the mainstream largely thanks to the success of bitcoin. As you may remember, it first entered the news in late 2017 when bitcoin prices reached a peak of nearly £15,000 per coin.
However, there has been a considerable amount of controversy surrounding it, partly due to official concerns that criminals are using cryptocurrency transactions for money laundering purposes. This suspicion has made many people concerned about the legality of crypto exchanges.
Thankfully for tech-minded investors, trading cryptocurrency is absolutely legal in the UK and so you don’t need to worry about getting a knock on the door from the police any time soon! According to figures from the Guardian, more than 2.3 million Brits have some sort of crypto assets, as effectively anyone with a credit or debit card and an internet connection can buy them.
