Hey guys,
How soon could you get BTCC online in the platform?
Thanks
Wayne
The UK government have restricted retail buyers from owning cryptocurrency stocks/ETP. This is a hard rule and trading212 just blanket stopped it across the whole of it not just in the UK. I believe to make it easier.
In short this is not going to happen.
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Sigh - appreciate the intel. I guess this is one that I’ll need to put through my US broker…
I went to binance to get what I want, not really t212 fault
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What a shame. This ETP would have been fun to observe in the UK. Here’s hoping that the regulators will delve into the issue and gain further insight and duly allow for this type of product to be traded here in the UK.
As i explained in another topic:
Thanks for the laughs
The FCA were probably paid a lot of money to make ETNs banned to UK retail. No reason to do that when crypto is still fine, much harder for them to stop that now. Basically stops ISA protected gains. Doesn’t help or protect the customer. They aren’t going to go back on that deal.
Bring on the 2021 British Touring Car Championship
Who would pay off the FCA? When the gatekeeper is suspected of letting the fox into the chicken pen, what hope has the farmer got?
I would personally avoid a crypto ETP in all its forms but I am also a very keen observer.
I’m not sure I follow the analogy but banks have the biggest interest in preventing crypto gaining traction. CGT is the government’s interest.
If you are prepared to buy crypto coins then buying shares that are backed by the bitcoin shouldn’t be a concern.
The good thing in my personal capacity is that I am as sceptical of crypto currencies as I am of centralised systems and owning crypto is so far removed from my immediate plans.
CGT is something most investors have to grapple with as it comes with the territory unless you plan to hold your investments indefinitely.
On that note, I will go and meditate on the joys of autonomy in a world that is anything BUT!
That’s what I mean though you don’t need to worry about CGT on crypto if you could still chuck in up to £20k a year into BTCE/BTCC inside the ISA account.
Most UK retail customers should never have to pay CGT if they are filling up their ISA limit before using Invest. People who gain an extra ÂŁ20k to invest each year are in the minority.