“Another clear sign that cryptocurrencies like Bitcoin, Ethereum and XRP are not only part of mainstream finance, but also the future of money.”
deVere Group CEO Nigel Green believes recent actions by UK tax authorities are signs that cryptocurrency is winning the battle of becoming a legitimate currency. Green, always quick to comment on policy issues, addressed HM Revenue & Customs recent requests for crypto trading information from leading digital asset exchanges. Green had this to say:
“This move by the UK’s 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. There is a continual and increasingly rapid slew of indicators that digital currencies are gaining traction in our increasingly digitalised world –much to the chagrin of financial traditionalists like Warren Buffet and Donald Trump.”
Green said Trump has placed himself on the “wrong side of history.”
Green said financial regulators around the world are preparing to implement regulatory guidelines to keep pace with crypto-friendly jurisdictions like Malta, Switzerland, and Japan.
He also stated that most major financial institutions have created “crypto desks” or are preparing to establish such trading arms.
“Tech giants, like Facebook, are planning to launch their own cryptocurrency – and where Facebook goes other tech monoliths will follow. And just this week, China’s central bank, which oversees the world’s second largest economy, has revealed it will soon launch its own state-backed cryptocurrency following five years of research,” claimed Green.
Green said that HMRC’s growing interest in cryptocurrencies underscores that their public influence and appeal is growing.
In 2018, deVere launched their own crypto App. Green did not clarify if deVere was a target of the UK government request to provide user crypto trading data.