UK Autumn Statement: Widened Access to Growth Market Exemption
Sometimes innovating in regulated financial markets can be rewarding – and at other times there can be huge hurdles to overcome. After engaging with various #UK stakeholders for over 3 years, we are pleased to finally see the #Chancellor Jeremy Hunt announce today, in his Autumn Statement, a change to the Stamp Duty Reserve Tax (#SDRT) exemption. This means that the Archax #DigitalAsset exchange is now afforded the same stamp duty exemptions as other traditional #SME Growth Markets in the UK. Couple that with the increased threshold for SMEs also introduced today, and a significant barrier to Archax operating a competitive #digital marketplace has been removed.
A lot of people have listened to our arguments and helped us with this levelling of the playing field. Thank you to NorthPoint Strategy for their support in this and to all of the MPs, Lords, Ladies and other parliamentary and governmental officials and bodies we’ve had dialogue with over the years, including Samuel Fenn, Jack Prytherch, Claudia Trauffler, Brandon Thompson, Sam Betley, Hannah P., ALISON LOCKYER, Simon Jennings, James North, Will Riley-Smith.
A great day for #innovation in financial markets in the UK and for making this country a #global digital asset/crypto hub.
Sometimes innovating in regulated financial markets can be rewarding – and at other times there can be huge hurdles to overcome. After engaging with various #UK stakeholders for over 3 years, we are pleased to finally see the #Chancellor Jeremy Hunt announce today, in his Autumn Statement, a change to the Stamp Duty Reserve Tax (#SDRT) exemption. This means that the Archax #DigitalAsset exchange is now afforded the same stamp duty exemptions as other traditional #SME Growth Markets in the UK. Couple that with the increased threshold for SMEs also introduced today, and a significant barrier to Archax operating a competitive #digital marketplace has been removed.
A lot of people have listened to our arguments and helped us with this levelling of the playing field. Thank you to NorthPoint Strategy for their support in this and to all of the MPs, Lords, Ladies and other parliamentary and governmental officials and bodies we’ve had dialogue with over the years, including Samuel Fenn, Jack Prytherch, Claudia Trauffler, Brandon Thompson, Sam Betley, Hannah P., ALISON LOCKYER, Simon Jennings, James North, Will Riley-Smith.
A great day for #innovation in financial markets in the UK and for making this country a #global digital asset/crypto hub.