UK investment bank executives suggest taxing cryptocurrencies to guide funds into the stock market

ChainCatcher news, according to Jinshi reports, Lisa Gordon, chairman of the British investment bank Cavendish, has proposed taxing cryptocurrency purchases to encourage more investors to invest in the UK stock market. She suggested introducing a cryptocurrency transaction tax similar to the 0.5% stamp duty on stocks on the London Stock Exchange, which currently brings substantial revenue to the government.

Gordon believes this move could shift investment towards stocks, helping to fund innovative UK companies and support the broader economy. She emphasized that more than half of Britons under 45 own cryptocurrencies rather than stocks, and she thinks reallocating some capital could enhance economic productivity. Despite the growing holdings of cryptocurrencies, Gordon referred to them as "non-productive assets" that contribute little to the economy.

She also mentioned that due to the cost of living crisis, many people are cutting back on investments, making it even more necessary to direct limited funds towards assets that can drive economic growth.