Buy Bitcoin and trade Crypto Currencies in the United Kingdom with these Exchanges:

On this page you can find the best bitcoin and crypto exchanges for users in the United Kingdom.

If you want to purchase bitcoin from the United Kingdom, you can do that by exchanging GBP or other fiat currencies as EUR or USD to bitcoin. As only a limited number of exchanges offer GBP/BTC trading pair on the market, the price on these exchanges could sometimes be higher. It might be useful to check the exchange rate of the EUR or USD trading pair on other exchanges to make sure you choose the most cost-efficient way for the purchase.

The United Kingdom has no regulation around bitcoin and cryptocurrencies at the moment. For taxation purposes including VAT and GST, bitcoin is treated as foreign currency in the country. Not VAT needs to be taken if bitcoin is translated to sterling or for foreign currencies. However, VAT will due if bitcoin is used to purchase goods and services. Profits and losses on cryptocurrencies transactions are subject to capital gain tax.

Compare your Top 3 Bitcoin Exchanges
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Choose Provider 3:
Provider
Pro and Contra
Has been hacked?
Fees
Security
Trading
US Friendly!
88 88
Pro
  • Low fees
  • Excellent liquidity in both USD and EUR markets
  • Margin and futures trading supported
  • Only exchange platform selected to support investigation into Mt. Gox's stolen Bitcoins
Contra
  • Sometimes has uptime problems when market gets hot.
  • Verifications take time.
  • Unlike many other Bitcoin exchange platforms, it does not work as crypto wallet.
  • Although it is not solely a Bitcoin exchange for US, Kraken has a lot of restrictions for a wide range of countries, specially for credit card purchases.
Has been hacked? No Fees
Deposit Fees:
10 USD for FedWire (Silvergate) 5 USD for FedWire (Synapse) 10 USD for SWIFT (Silvergate Bank) 3 USD for SWIFT (Bank Frick) 3 EUR for SWIFT (Bank Frick) 1.25 CAD + 0.25% of the transaction for In-person cash or debit (Canada Post) 1.5% of the transaction for Interac e-Transfer 3 CAD for SWIFT (Bank Frick) 21 GBP for CHAPS (ClearJunction) 3 GBP for SWIFT (Bank Frick) 0.75 CHF for SIC (Bank Frick) 0.75 CHF for SWIFT (Bank Frick)
Withdrawal Fees:
Yes
Trading Fees:
0.00%-0.26%
Security Excellent Trading
Futures? Yes
Derivatives? Yes
Margin Trading? up to 5x
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Anonymous, No KYC
80 80
Pro
  • 2FA ensures security
  • High leverage (up to 100x Cryptocurrencies, up to 1000x Forex)
  • No KYC required
Contra
  • Not widely known yet
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
0.001%-0.05%
Security Good Trading
Futures? No
Derivatives? Yes
Margin Trading? up to 1000x
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All in One
80 80
Pro
  • Very low fees
  • A myriad of coins to exchange with
  • No lags experienced with website
Contra
  • Customer support lacks phone
  • Has been hacked one time (but compensated their users)
  • Different domains for US and the rest of the world
Has been hacked? Yes (on 7. May 19) Fees
Deposit Fees:
No
Withdrawal Fees:
Yes
Trading Fees:
0.012% - 0.10%
Security Ok Trading
Futures? Yes
Derivatives? Yes
Margin Trading? up to 20x
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80 80
Pro
  • “Real” Decentralized Exchange
  • Anonymous
  • Account creation is fast and very easy (not required to complete KYC/AML)
  • Accepts Fiat payments
Contra
  • In Business only since 2016
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
Yes
Security Excellent Trading
Futures? None
Derivatives? No
Margin Trading? None
Visit Website
90 90
Pro
  • Fast account creation
  • Real-time auditing
  • High leverage
Contra
  • Only Bitcoin and Ethereum trading
  • Not user-friendly
  • Website design is confusing
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
Depends
Trading Fees:
-0.01%-0.05%
Security Excellent Trading
Futures? Yes
Derivatives? Yes
Margin Trading? up to 100x
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High Volume
76 76
Pro
  • High liquidity
  • Low fees
  • Full package of order types, margin trading and lending market
  • Hack has been solved professionally and innovative, paid back all the losses from the hack (!)
Contra
  • Not a transparent company
  • Has been hacked multiple times
  • Controversial connection to Tether
Has been hacked? Yes Fees
Deposit Fees:
No (only for FIAT)
Withdrawal Fees:
Yes
Trading Fees:
0.10%-0.20%
Security Ok Trading
Futures? Yes
Derivatives? Yes
Margin Trading? up to 10x
Visit Website
80 80
Pro
  • Easy account creation
  • No minimum deposit
  • Awesome interactive website
Contra
  • Unregulated
  • Some negative reviews
Has been hacked? Yes (2016, but only email system) Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
No
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? up to 500x
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Buy w. Credit Card
80 80
Pro
  • Reliable order execution
  • Wire Transfer & Credit Cards
  • Instant buy option of coins
Contra
  • Premium on prices
  • Support’s canned responses
  • Verification process is a bit demanding
Has been hacked? Yes, hacked in 2013 Fees
Deposit Fees:
Yes
Withdrawal Fees:
Yes
Trading Fees:
0.00%-0.25%
Security Good Trading
Futures? Yes
Derivatives? Yes
Margin Trading? up to 100x
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Great for Credit Card
82 82
Pro
  • A lot of different payment method
  • Strict security standards
  • Trustpilot reviews
Contra
  • Verification needeed for full access
  • Some US states are not supported
Has been hacked? No Fees
Deposit Fees:
Yes (for Credit Card Payments)
Withdrawal Fees:
Yes
Trading Fees:
N/A
Security Trading
Futures? No
Derivatives? No
Margin Trading? No
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Anonymous P2P
90 90
Pro
  • Many coins and payment methods supported
  • Multi-blockchain P2P exchange
  • Transparency about company background
Contra
  • Reliability of service is depending on the sellers on the platform
  • Too many options to choose from can paralyze users
  • High crypto prices
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
Yes
Trading Fees:
1.00%
Security Medium Trading
Futures? No
Derivatives? No
Margin Trading? No
Visit Website
86 86
Pro
  • No fees
  • No KYC or registration
  • Quick execution
  • Advance Cash is supported to cash out crypto
Contra
  • Higher cryptocurrency prices
  • Too less information in the FAQ section
  • No fiat payment option
  • Limited number of supported coins
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
0%
Security Good Trading
Futures? No
Derivatives? No
Margin Trading? No
Visit Website
88 88
Pro
  • Low fees
  • Futures trading options
  • Leverage up to 100x
Contra
  • Lack of real user experience online
  • No social media activity (Twitter suspended)
  • Users from the US are excluded
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
0.005%-0.060%
Security Good Trading
Futures? Yes
Derivatives? Yes
Margin Trading? up to 100x
Visit Website
84 84
Pro
  • Safe and decentralized trading
  • Arbitrators
  • 2-out-of-3 multisig security in trades
  • Wide selection of FIAT and Crypto Currencies
Contra
  • They need more aggressive advertising
  • More active development
  • They need to team up with other companies
  • High fees
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
Yes
Trading Fees:
0.001% - 0.009%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
Visit Website
80 80
Pro
  • using Meta Trader 5
  • lot of different coins are supported
  • leverage up to 20x
Contra
  • very new exchange with no real track record
  • only crypto deposits are available
  • can be confusing for newbies
Has been hacked? No Fees
Deposit Fees:
Free
Withdrawal Fees:
Miner fee
Trading Fees:
0,2%
Security High Trading
Futures? No
Derivatives? Yes
Margin Trading? up to 20x
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Easy to use
76 76
Pro
  • High liquidity
  • Integrated debit and credit cards
  • Newbie friendly
Contra
  • Major violations of users privacy
  • High Trading Fees for < $50k Trading / Month
  • Segwit still not supported ( = high TX fees )
Has been hacked? No Fees
Deposit Fees:
Yes
Withdrawal Fees:
Yes
Trading Fees:
0.50%-0.05%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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Popular Newcomer
78 78
Pro
  • low trading fees (rebates for market makers!)
  • no KYC process
  • sign-up and deposit bonuses
Contra
  • No information about the company
  • No fiat trading option
  • New trading platform with no real social media activity
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
-0,025%-0,075%
Security Good Trading
Futures? No
Derivatives? No
Margin Trading? Yes, up to 100x
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Great for EUR/USD
82 82
Pro
  • Has not been hacked
  • Great to buy Bitcoin / Ethereum with FIAT
  • Easy to use exchange interface
Contra
  • No trading platform
  • KYC needed
Has been hacked? No Fees
Deposit Fees:
No (for min. deposits)
Withdrawal Fees:
Yes
Trading Fees:
0.05%-0.15%
Security Excellent Trading
Futures? No
Derivatives? Yes
Margin Trading? No
Visit Website
Lots of Altcoins
80 80
Pro
  • User-friendly Interface
  • Security -Yobi codes (deposit codes)
  • Free Coins
Contra
  • Many Negative reviews
  • Very high withdrawal fees ( > 0.001 BTC)
Has been hacked? No Fees
Deposit Fees:
Yes
Withdrawal Fees:
Yes
Trading Fees:
0.2%
Security Excellent Trading
Futures?
Derivatives? No
Margin Trading? No
Visit Website
86 86
Pro
  • no trading commissions
  • rewards system after open trades
  • offers to trade forex and gold too beyond crypto
Contra
  • no real online presence of the company
  • US users are not accepted
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
0.00%
Security Good Trading
Futures? No
Derivatives? Yes
Margin Trading? up to 50x
Visit Website
80 80
Pro
  • Good reputation
  • High volume and liquidity
  • Connections in the industry grant it additional legitimacy
  • Easy to use and quick
Contra
  • High Trading Fees if you are trading lower volumes
  • More negative comments in the recent past
Has been hacked? Yes, in January 2015 Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
0.5%-0.10%
Security Very Good Trading
Futures? No
Derivatives? No
Margin Trading? No
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Pro
  • N/A
Contra
  • N/A
Has been hacked? No Fees
Deposit Fees:
TBD
Withdrawal Fees:
TBD
Trading Fees:
N/A
Security N/A Trading
Futures? None
Derivatives? N/A
Margin Trading? None
Visit Website
80 80
Pro
  • Verified merchants offer platform users services
  • Fast turnaround of deposits and withdrawals
  • High flexibility
  • Fully escrowed delivery
Contra
  • No mobile app
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
0.1% USD, 5 USDT, 0.0005 BTC
Trading Fees:
0.008%-0.150%
Security Good Trading
Futures? N/A
Derivatives? N/A
Margin Trading? up to 100x
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82 82
Pro
  • low commissions
  • No KYC needed for crypto only deposits / withdrawals
  • good resources on trading and cryptocurrency
  • UK phone hotline
Contra
  • no information on the company background
  • US users are restricted
  • only cryptocurrency deposits are accepted
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
0.00%
Security Good Trading
Futures? No
Derivatives? No
Margin Trading? up-to 50x
Visit Website
68 68
Pro
  • Easy account creation
  • Online and Offline payment options
  • Easy to operate platform
Contra
  • Fees are high (3-11.9%)
  • No leveraged trading
  • No App
Has been hacked? No Fees
Deposit Fees:
N/A
Withdrawal Fees:
N/A
Trading Fees:
0.25%-8.75%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
Visit Website
72 72
Pro
  • 140+ currencies available
  • Accepts Credit Cards
  • 2FA Security
  • No verification for crypto to crypto
Contra
  • High transaction fee of 0.5%
  • Negative comments from the community
  • Still a lot to prove (a fairly new company)
Has been hacked? No Fees
Deposit Fees:
None
Withdrawal Fees:
None
Trading Fees:
0.50%
Security Good Trading
Futures? No
Derivatives? No
Margin Trading? No
Visit Website
80 80
Pro
  • Easy to use website
  • Great features
Contra
  • Verification process is long
  • Focused on Argentinean market
Has been hacked? No Fees
Deposit Fees:
Yes
Withdrawal Fees:
$20
Trading Fees:
0.50%-1.00%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
Visit Website
Best Support
60 60
Pro
  • Superb liquidity, often the best in the world
  • Many advanced trading options
  • Low fees
Contra
  • Sometimes foreign traders have problems with verification
  • Chinese Exchange (PBoC)
Has been hacked? No Fees
Deposit Fees:
In most cases no
Withdrawal Fees:
Yes
Trading Fees:
0.00%-0.10%
Security Excellent Trading
Futures? Yes
Derivatives? No
Margin Trading? up to 3x
Visit Website
Fast Support!
78 78
Pro
  • Competitive fees
  • Good security
  • Accepts many different FIAT currencies
Contra
  • Website could use some improvements
  • Doesn't keep the pace with competition
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
Yes, 1% + 5 USD
Trading Fees:
0.00%-0.20%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
Visit Website
82 82
Pro
  • margin trading available in less-known altcoins too
  • option to reduce trading fees
  • native token
Contra
  • not available for US users
  • site is not completely localized for English
  • KYC is needed for withdrawal
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
0,04%
Security Good Trading
Futures? No
Derivatives? Yes
Margin Trading? up to 10x
Visit Website
90 90
Pro
  • Almost all countries are accepted (including some parts of the US)
  • Highest buying limit
  • Good Support
Contra
  • 3% fee
  • Some scam claims
Has been hacked? No Fees
Deposit Fees:
5% credit card fee
Withdrawal Fees:
5% credit card fee
Trading Fees:
5.90%
Security Good Trading
Futures? No
Derivatives? No
Margin Trading? No
Visit Website
80 80
Pro
  • 2FA
  • Low Fees
  • A wide range of coins
Contra
  • No Fiat Payments
  • Leverage not available yet
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
0.025%-0.075%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? up-to 50x
Visit Website
82 82
Pro
  • Trade gift cards for BTC instantly
  • A wide variety of payment methods and currencies accepted, at least in theory
  • Easy to join and get going
Contra
  • Mixed reviews
  • Slow customer support
  • High commissions charged (by the seller) for buying Bitcoin with uncommon methods or in non-mainstream currencies
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
Yes
Trading Fees:
0.00%-1.00% (with gift cards up to 5%)
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
Visit Website
66 66
Pro
  • Federally regulated
  • Available in all 50 states of USA
  • Good liquidity and competitive fees
  • Keeps BTC in cold storage, backed by audited reserve minimum
Contra
  • No mobile apps
  • No margin trading and short selling
  • No ACH transfers
Has been hacked? No Fees
Deposit Fees:
Yes
Withdrawal Fees:
Yes
Trading Fees:
0.20%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
Visit Website
60 60
Pro
  • Easy account creation
  • Futures and Options available
  • Phone support
Contra
  • Beta phase
  • Platform design needs to be “optimized”
  • Does not support any Fiat deposit/withdrawals
Has been hacked? No Fees
Deposit Fees:
None
Withdrawal Fees:
None
Trading Fees:
-0.02%-0.03%
Security Excellent Trading
Futures? Yes
Derivatives? No
Margin Trading? up-to 10x
Visit Website
90 90
Pro
  • Sandbox account
  • Intuitive website
  • No deposit/withdrawal fees
Contra
  • Crazy account creation (limited countries accepted)
  • High trading fees
  • Needs more coverage (countries accepted)
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
0.25%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading?
Visit Website
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Best Bitcoin Exchange for the United Kingdom

Great Britain is home to an enthusiastic Bitcoin scene, but is extremely ambivalent about the crypto currency as a whole. While many individuals recognise the potential of the Bitcoin and set about exploring its possibilities, the establishment remains rather reserved. This conflict is likely to hamper Bitcoin’s acceptance in Britain and, paradoxically, promote its rise as an unofficial currency.

In January of this year, London experienced its Satoshi Square. It was an informal meeting on the outskirts of the City of London – the rich financial district of the city that is the capital of global financial flows. Organized by Tom Robinson of Elliptic, a London start-up that stores and insures Bitcoins “cold”, Satoshi Square attracted about 100 people. Bitcoin enthusiasts met to get to know each other, to exchange the latest news and to trade in real time. It was like in 80’s movies about Wall Street: everyone roared and waved their hands to bid for coins. These, however, were then exchanged using smartphone apps.

Satoshi Square is a good picture to describe the ambivalence that makes Britain’s access to the world’s most popular crypto currency. On the one hand, it shows the vibrant culture that is quickly building up around the Bitcoin – not only in London, but also in cities across the country. On the other hand, it speaks volumes that supporters of Bitcoin are public but outside the establishment. Of course, Satoshi Square sprays energy and offers an opportunity to meet like-minded people – but why bother to exchange cash for Bitcoins when there are much easier ways?

Buying Bitcoin in the UK

It is not difficult to buy Bitcoins in Great Britain. All you need is a bank account and an Internet connection. However, unless you are in Satoshi Square, it is almost impossible to buy Bitcoins at fair prices.

The leading sites all work in the same way. After the buyer has agreed to buy Bitcoins and given a Bitcoin address, he receives an order code, the purchase amount in sterling and the seller’s bank details. The buyer must then transfer the amount via online banking and enter the order code as a reference. When the seller registers the receipt of the money, he releases the Bitcoin.

There is currently only one functioning Bitcoin exchange in the UK. Others have existed once, in this or that form, but all have had problems when the bank refused to process transfers. The managing director of the only really usable exchange recently wrote to all users: “We have been operating for 2 months now. We have nearly 1,000 registered customers and are a stock exchange that is obviously running flawlessly. We’ve had some software glitches, but most of the time we’ve been able to fix them within minutes, and we’ve always followed the rules. So far, so good. While we have a large amount of your money in the account and a large number of Bitcoins in the cold wallet, you seem to loathe trading in large quantities. It looks like we’ve become a bank instead of a stock exchange.”

The main problem is probably the cost. It’s expensive to put Fiat money on exchanges and debit it: 10 pounds per transfer (12 euros) is not uncommon. To acquire small Bitcoin amounts becomes thereby unaffordably expensive. It is cheaper to buy them on one of the marketplaces mentioned above and then transfer them to the stock exchange. But you can’t do much with them once they’re there. Because the trading volume is small, the spread between bid and ask is unrealistically high and worthwhile trades are rare. A dilemma.

Finally, there is an alternative for Brits to buy Bitcoins: The European stock exchanges. As members of the SEPA region, Britons are not deterred from sending money to these exchanges and buying Bitcoins at the prices there. The problem is, once again, the banks: they usually charge a fee of at least £10 to make a transfer to the continent and also switch to immoral rates. The result is, again, costs of 5 to 10 percent above the market price to buy a single Bitcoin. Ironically, with these hefty charges, banks are pointing out the problem that the Bitcoin is supposed to fix.

Obviously UK banks do not want their customers to use their service to buy Bitcoins. Somehow understandable, too. But the British are an entrepreneurial bunch, and even in London – especially in London, the heart of the financial system – they have found ways to buy, sell and trade Bitcoin. Bitcoin ATMs landed in London long before they showed up in other major cities. In an ocean of press reports about new ATMs floating all over the world, a BBC news story stands out: “On the 39th floor above Canary Wharf, overlooking London’s financial centre, I discovered a slightly different ATM. This ATM eats your 10 pound bill, enough to spit it out, and gives you a computer code for it. This is the world’s first Bitcoin cash machine, and if you believe the people who showed it to me, it shows us the future of money.” This story is from July 2, 2013.

Beer for Bitcoins

A short train ride from London is the historic university town of Cambridge. Here you can see gothic churches that are more than 1000 years old, red brick houses, soot-blackened, sandstone polished by the centuries – and of course the university, with small tea shops, shops and student pubs between its pompous buildings that are up to eight centuries old. In summer the Cam is full of boats sailing leisurely up and down the river, while students celebrate the end of another busy year of lectures and exams, preparing to join the elite of politics, science, business and media that traditionally dominate Cambridge graduates.

Cambridge was home to Alan Turing, the computer scientist and KingsCollegeChapelWest cryptanalyst who was instrumental in cracking the Nazi Enigma encryption in World War II. If a city in Britain is to be expected to be enthusiastic about the Bitcoin, it is Cambridge. And so it is: Strolling through Cambridge, you will meet many Bitcoin fans and shops who have dared to take the step of accepting the Bitcoin for their goods. At least two pubs in the city are taking Bitcoins for beer, and have been doing so since June 2013 – several months before the crypto currency reaches its all-time high and sparks massive press interest.

(No) taxes on Bitcoins

Okay. Okay. British banks don’t like the Bitcoin, but entrepreneurs have recognised its merits and are trying to turn both its advantages over Fiat money and media interest into cash. What about the government?

The UK tax administration seems confused rather than hostile. Already in June 2011 an article about the Bitcoin appeared in the popular Manazin “New Scientist”. The article, broadly positive, quoted the official tax position of the time: “HMRC, the UK tax authority, says people don’t incur tax liabilities when trading Bitcoins unless they turn their profits into real money. But once ordinary money is involved, the revenue could become taxable.” Respect for commenting at all – but “could become taxable” is not exactly the clarity an accountant wants to work with.

A year later, the HMRC realised that conventional money was involved in Bitcoin trading, and not in small amounts. In November 2013, the HMRC apparently classified Bitcoins as vouchers. Coindesk quoted Tom Robinson, Managing Director of BitPrice (which later became Elliptic, a company that stores and insures Bitcoins), who provided the following information from HMRC: “The view of our team is that it is not a currency. It is our view that the provision of Bitcoins is equivalent to the sale of vouchers”. Robinson commented: “This is obviously a totally inadequate classification of the Bitcoin: they are not issued by anyone, they have no nominal value and they can be exchanged for a huge range of goods and services”. Even HMRC itself seems confused about whether or not to levy VAT on Bitcoin sales. Two months later, after Robinson had spoken to the tax authorities and explained the nature of Bitcoin to them, HMRC was on the verge of classifying Bitcoin as private money like Germany.

Now the authority has confirmed that it does not want to levy VAT on Bitcoins. Bitcoin companies from around the world have enthusiastically received this news and believe that London could become the Bitcoin capital of the world. The Bitcoin Foundation is even planning to move to London in the coming months, underlining Britain’s position as a Bitcoin-friendly country – despite the obstacles the banks are putting in the way of Bitcoin.

A glance at coinmap.org shows that Great Britain is already a pioneer: more than 170 Bitcoin companies can be found. There are 60 of them in London alone, which means that the city shares its status as the Bitcoin capital of Europe with Berlin.

Conclusion

The Bitcoin has many fans in Great Britain. The country keeps up with the USA, Nordic and other leading countries in terms of client downloads, there is a thriving meet-up scene and a burgeoning corporate culture.

At the same time it’s clear that the British banks don’t want to hear about Bitcoin and have done what they can to get the “problem” out of their minds that they see Bitcoin as. Instead of promoting it – or at least making it possible, as the European banks seem to do – they wall it up and step backwards, making it harder than necessary for people to buy Bitcoins. Meanwhile, the tax administration, like many other authorities in the world, is making a rush policy.

Some of this is merely due to Bitcoin’s status as a new and disruptive technology and will be ironed out in due course. But London is the capital of global capital, and the banks that have turned it into the powerhouse of capitalism are throwing sand in the works.

Regulation may be atrocious for Bitcoin purists who see the crypto currency as a solution to the problem of state intervention in the financial system. In Britain, however, a little clarification would make things easier for everyone.

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