The budget was awful for Crypto

So the Chancellor of the Exchequer, Jeremy Hunt, stood up in the Commons and announced his austerity budget today.

What caught my eye was the change to the tax free Capital Gains allowance.

The capital gains tax-free allowance will be reduced from the current £12,300 to £6,000 from next April and then fall to £3,000 for all investments held outside of an ISA.

As there arn't any ISAs that allow you to hold crypto within them, this will affect gains made on crypto (if crypto prices start rising again so we make profits again).

I'm hoping that he's just said this stuff to calm the markets, and next April when inflation is down, he announces, "Things are better than we thought, so we won't have to do this".