Bitdeal - Blockchain Development Company In London, UK glad to expands its blockchain development services in the United Kingdom and other European countries.

1. Blockchain Development
Company In London, UK

2. The United Kingdom is widely known as the home of both
modern parliamentary democracy and the Industrial Revolution.
As the UK is having the world’s most effective business and
investment environments it is ranked 3rd among 44 countries in
the Europe region.
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3. State of Crypto and Blockchain
in the UK
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4. Cryptocurrency Regulation
In UK
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5. “The Financial Conduct Authority (FCA) is a financial
regulatory body in the United Kingdom, undergoing a
study on cryptocurrency and its technologies,
evaluating the risks and benefits.
Recently, The Financial Conduct Authority (FCA)
announced certain guidance on cryptocurrencies and
also given an important clarification toward
cryptocurrency regulations.
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6. Guidelines:
1. cryptocurrencies like bitcoin and ethereum are categorized as
exchange token and it is unregulated but fall under
anti-money laundering regulations
2. Security tokens are categorized as a specified investment and
will fall under FCA jurisdiction.
3. Stablecoin is defined as e-money, which will fall under FCA's
regulation.
4. Except, Security tokens and e-money tokens others like utility
tokens are unregulated tokens.
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7. Blockchain Regulation In UK:
The rise of cryptocurrencies has paved the way for blockchain
technology and is moving swiftly worldwide. In Uk, there is no such
official legislation to the use of blockchain technology from the Uk
regulatory body, the Financial Conduct Authority(FCA).
One Step Forward, the FCA has declared that 29 companies were
accepted into the 4th regulatory sandbox in July 2019 and 11 of these
firms are blockchain startups. This Regulatory Sandbox allows
companies to set their projects in the UK regulatory environment.
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Recent two reports were published by two independent think tanks,
have indicated that the UK government is taking the use of distributed
ledger technology (DLT) into consideration to deliver more and better
quality public services.
The First Report, "The Future of Public Service Identity," which was
published by London-based think tank Reform.
The Second Report,” Distributed Ledger Technologies for Public
good” which was released by the House of Lords, the upper chamber
of the UK parliament.
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9. Cryptocurrency Taxation in the UK:
Her Majesty’s Revenue and Customs(HMRC) is the authority in the EU
responsible for the collection of taxes has released taxation guidance
in 2014.
There will be two types of tax namely capital gains tax (CGT) and
income tax (IT). As the Cryptoassets are predominantly taken as an
investment property, taxpayers are subject to CGT on the disposal of
their crypto assets.
The tax rate will be 10% or 20% based on their level of income.
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10. Prospects of Blockchain-based industry in the UK:
Real Estate:
Blockchain in real estate aims to combat delays and uncertainty
in real estate transactions. HMLR has announced its utility of
blockchain prototype in the sale of the house for a transparent,
quick, and trustworthy sale.
Also, HMLR aims to become “the world’s leading land registry”.
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Port Connectivity:
Here, the Blockchain Technology is to improve the port
connectivity. The memorandum of understanding (MOU) has been
signed between Associated British Ports (ABP) and Marine
Transport International (MTI).
The British port project will cover ABP’s 21 ports across the UK,
which together handles 25% of the country’s seaborne cargo.
Refer to our blockchain service in various industries!!

12. Bitdeal - Blockchain Development Company in UK
We at bitdeal having geographically scattered experts of various
specializations, have been doing a profound research on the use case
of blockchain in distinct industry verticals such as real estate, banking,
Insurance, Telecom, Healthcare, and Supply Chain and so on.
we always keep efforts on our creative imagination and innovative
knowledge to provide top Blockchain Development Services in London
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THANKS!
Any questions?
Mail To: sales@bitdeal.net
WhatsApp To: +91 9677555651