Reeves Eyes Doubling Crypto Tax as Labour Tackles 'Broke Britain'

Britain faces a £20 billion black hole in its public finances. Chancellor Rachel Reeves is eyeing higher crypto taxes through increased capital gains. Brits are considering their options if crypto taxes more than double. The Labour Party swept to a landslide victory on July 5, promising a fairer deal for working Brits. While Labour pledged not to raise taxes on working people, this commitment specifically covered income tax, national insurance, and VAT, leaving other taxes like capital gains open to potential increases. This leaves crypto investors open to a possible tax hike as asset appreciation falls under capital gains

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