{"id":153504,"date":"2019-08-14T10:10:50","date_gmt":"2019-08-14T14:10:50","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=153504"},"modified":"2019-08-14T07:10:22","modified_gmt":"2019-08-14T11:10:22","slug":"uk-authoritys-action-on-bitcoin-shows-cryptocurrencies-are-the-future-of-money","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/08\/uk-authoritys-action-on-bitcoin-shows-cryptocurrencies-are-the-future-of-money\/","title":{"rendered":"UK authority’s action on Bitcoin shows cryptocurrencies are the future of money"},"content":{"rendered":"
August 14, 2019<\/div>
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By George Prior<\/strong><\/p>\n

HMRC\u2019s bid to claw back taxes on cryptocurrencies demonstrates the digital assets are the future of money, affirms the CEO of one of the world\u2019s largest independent financial advisory organizations.<\/p>\n

Nigel Green, chief executive of deVere Group, which launched the cryptocurrency app deVere Crypto in early 2018, is speaking out after it is revealed that HM Revenue & Customs is asking cryptocurrency exchanges to reveal customers\u2019 names and transaction histories, in a bid to recover unpaid taxes.<\/p>\n

Mr Green comments: \u201cThis move by the UK\u2019s tax authority cannot be viewed as anything other than another clear sign that cryptocurrencies like Bitcoin, Ethereum and XRP are not only part of mainstream finance, but also the future of money.\u201d<\/p>\n

He continues: \u201cThere is a continual and increasingly rapid slew of indicators that digital currencies are gaining traction in our increasingly digitalised world \u2013much to the chagrin of financial traditionalists like Warren Buffet and Donald Trump.<\/p>\n

\u201cFor instance, financial regulators around the world are preparing and looking to implement regulatory guidelines for cryptocurrencies in order to keep pace with countries like Japan, Malta, Switzerland and South Korea which already have pro-crypto policies.<\/p>

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\u201cMost major financial institutions globally already have or are preparing to establish crypto desks.<\/p>\n

\u201cA growing number of retail and institutional investors are piling into the crypto sector market.<\/p>\n

\u201cTech giants, like Facebook, are planning to launch their own cryptocurrency \u2013 and where Facebook goes other tech monoliths will follow.<\/p>\n

\u201cAnd just this week, China\u2019s central bank, which oversees the world\u2019s second largest economy, has revealed it will soon launch its own state-backed cryptocurrency following five years of research.\u201d<\/p>\n

When Donald Trump last month criticised Bitcoin, the deVere CEO said the president was \u201cplacing himself on the wrong side of history.\u201d<\/p>\n

He went on to note: \u201cStanding on the sidelines, or worse looking backwards, on the issue of cryptocurrencies – which are redefining and reshaping the financial system – is a baffling approach for the leader of the world\u2019s largest economy to take.\u201d<\/p>\n

Mr Green concludes: \u201cHMRC\u2019s growing interest in cryptocurrencies underscores that their public influence and appeal is growing.\u201d<\/p>\n

About:<\/strong><\/em><\/p>\n

deVere Group is one of the world\u2019s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.\u00a0 It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.<\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

By George Prior HMRC\u2019s bid to claw back taxes on cryptocurrencies demonstrates the digital assets are the future of money, affirms the CEO of one of the world\u2019s largest independent financial advisory organizations. Nigel Green, chief executive of deVere Group, which launched the cryptocurrency app deVere Crypto in early 2018, is speaking out after it […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-153504","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/153504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=153504"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/153504\/revisions"}],"predecessor-version":[{"id":153505,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/153504\/revisions\/153505"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=153504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=153504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=153504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}