Cavendish Investment Bank Chairman: "UK Should Tax Cryptocurrency Transactions"

Uk Jin

Summary

Chairman Lisa Gordon stated that taxes should be imposed on cryptocurrency transactions in the UK.
She expressed a desire for the reduction of stamp duty on stocks to be applied equally to cryptocurrencies.
Chairman Gordon emphasized investment priorities by comparing the lack of productivity in cryptocurrencies with the social role of stocks.

Lisa Gordon, chairman of the UK investment bank Cavendish, has argued that taxes should be imposed on cryptocurrency transactions.

According to the cryptocurrency-focused media outlet Cointelegraph on the 24th (local time), Chairman Gordon stated, "The fact that more than half of those under 45 own cryptocurrencies instead of any stocks should alarm everyone," and added, "I hope the stamp duty on stocks is reduced and applied equally to cryptocurrencies."

Chairman Gordon questioned the intrinsic value of cryptocurrencies. He explained, "Cryptocurrencies are non-productive assets and do not contribute to the real economy," and continued, "In contrast, stocks provide growth capital to companies that create jobs, innovate, and pay corporate taxes." He further mentioned, "This is the social contract. We should not be afraid to prioritize such stocks."

In fact, the investment sentiment towards stocks in the UK has recently cooled significantly. According to a report published by the global consulting firm EY, only 18 companies were listed on the London Stock Exchange last year, while a much larger number of 88 companies were delisted or moved to other markets.