Everyone: Thereās an energy and crises and a huge problem with moneylaundering in the British economy we want you to solve.
Chancellor: Heeeerrreeeās Crypto currency!
1st April was 3 days ago 
Itās one thing saying this but another when the actions of disparate regulatory, taxation and monetary policy bodies are the exact opposite:
- The FCA banned crypto derivatives (meaning personally I could no longer buy Bitcoin Exchange Traded Products on Trading212 from 6 Jan 2021 and killed access for U.K. investors to the innovations happening in Europe with Digital Asset ETPs)
- HMRC updated the Crypto Asset Manual wrt DeFi and Staking/Lending/Liquidity Mining Feb 2022 to little fanfare but itās not DeFi friendly to say the least.
- The Bank of England still led by Dinosaurs pedalling 2017 tropes of criminality
That sounds like a āsensibleā precursor to introducing a government supported stable coin to me. Ban all the unregulated/uncontrolled stuff, then focus on thing you are making and controlling yourself.
Wasnāt aware there has been a recent update to tax guidance. Just skimmed it so far and will need more time to read properly.
Clearly there needs to be more work in tax laws if crypto is to become mainstream and if UK is to be attractive to crypto businesses (especially in relation to activities that generate 100s/1000s of transactions per year - such as DeFi lending and day-to-day spending). But I do think this is more of a work in progress than the final word. It seems a case of regulators not being able to keep up with pace of innovations, but needing to have some guidance on DeFi rather than no guidance.
In relation to the current need to report 100s/1000s of transactions as taxable events - I donāt have much sympathy for the early adopters who get caught up in this issue. It was obvious this was a possibility before this new guidance was issued, so users could have chosen not to engage in these activities due to the potential for arduous tax implications.
DFI (the native coin for DeFiChain) for me, and just crossed the Ā£5,000 mark on todays pump post Fed interest rate rise 
Do you also use their cards? What are your thoughts on Cronosā recent changes?
Gutted to be honest, a lot of people are. And the sell off is no doubt down to that.
A lot of people are unstaking which is probably what Iāll do when my term ends in 170 days 
Interesting. 8% and 4% are still decent APYs to me looking from outside in. What were they before this change?
Edit: updated rates again, not a good look. Looks like damage limitation. Crypto.com spent hundreds of millions on advertising in the last year so to reduce rates for users is understandably a kick in the teeth for lot of them.
I donāt get what the U.K. has ālostā, this seems to just be about France accepting Binance.
Itās in the context of a few posts up where @o99 posted this:
And my post here:
Anything think bitcoin will drop much further?
Yes.
You could tell me Bitcoin is Ā£1000 or Ā£100,000 and Iād believe you.
Take my money.
Has the crypto bubble burst now?
https://twitter.com/cstross/status/1524676409280585731
Bitcoin is teetering on the precipice of an abyss, according to some crypto market analysts, with its price hitting its lowest level since July 2021.
Meh, I only bought Ā£1000 of crypto last year and I keep it in my own wallet. Itās worth about half of that today but I was never trying to make a quick profit. Iām certainly not going to sell it.
In late 2018, Bitcoin dropped to about 20% of its late 2017 peak (priced in USD). At the moment its about 40% of its summer 2021 peak. So at the moment its in seen it all before territory. I have more confidence this time round that it will bounce back due to larger institutional interest.