UK

Crypto

Vast Bank Exits Cryptocurrency After OCC Order, Shuts Down Mobile App

Vast Bank, an early entrant into the United States cryptocurrency banking space, recently opted for a strategic shift by discontinuing its mobile crypto banking app and announcing its departure from the cryptocurrency industry. The pivotal moment for this decision came in October 2023 when the Office of the Comptroller of

Policy

UK Issues Crypto Tax Warning: Declare Taxes or Face Penalties

The United Kingdom's tax authority, His Majesty’s Revenue and Customs (HMRC), has issued a stern warning to individuals holding cryptocurrencies, non-fungible tokens (NFTs), and utility tokens, emphasizing the imperative of timely tax declaration and payment. In guidance released on November 29, HMRC underscores the potential consequences for those failing