Lisa Gordon, chair of UK investment bank Cavendish, has proposed a tax on cryptocurrency purchases to encourage more investment in British stocks. She suggests introducing a stamp duty on crypto, similar to the 0.5% tax on London Stock Exchange shares, which already brings in substantial revenue.
Gordon argues that this move could shift investment toward equities, helping fund innovative UK companies and supporting the broader economy. She highlighted that more than half of Britons under 45 own crypto but not stocks, and believes redirecting some of that capital could boost economic productivity.
While crypto ownership is growing, Gordon called it a “non-productive asset” with little contribution to the economy. She also acknowledged that many people are scaling back their investments due to the cost-of-living crisis, making it even more important to guide limited capital toward assets that drive growth.
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I suspect this will not be a popular call 😉
BTC update: