Key Takeaways:
IG Group will enable UK retail investors to trade Bitcoin (BTC), Ethereum (ETH), XRP, and 35 additional tokens.
This development coincides with an increase in cryptocurrency ownership in the UK and the emergence of new regulations.
From 2026 onward, UK crypto firms will be required to report detailed customer data for all trades.
IG Group, a trading firm listed on the London Stock Exchange, is set to become the first company in its sector to offer retail investors the ability to trade individual cryptocurrencies. This offering will include prominent digital currencies like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), as part of an innovative digital assets service.
Michael Healy, managing director of IG’s UK operations, expressed the significance of this move, stating, “This is a major milestone in the UK’s crypto journey. Customer demand is reaching a tipping point,” in an interview with The Times.
The newly established service will allow IG’s retail clients to trade a total of 38 cryptocurrencies, facilitated through a partnership with Uphold, a digital assets platform.
IG Group to Offer BTC, ETH, XRP, and Memecoins
Included in the trading options will be a variety of well-known tokens such as BTC, ETH, and XRP, alongside less mainstream options like the memecoin Dogwifhat.
Uphold will provide custody for the assets; however, it’s important to note that these holdings will not be safeguarded under the UK’s Financial Services Compensation Scheme.
This strategic expansion shifts IG’s focus beyond its historical strengths in leveraged trading and stockbroking, positioning the FTSE 250 company as a more credible option against existing UK-based crypto services, including the unlisted Revolut.
Healy emphasized that being a publicly listed entity enhances “client trust.”
The rising interest in cryptocurrencies among UK consumers is evident, with a recent estimate from the Financial Conduct Authority (FCA) indicating that 12% of UK adults owned cryptocurrency last year, a marked increase from just 4.4% in 2021.
This initiative arrives at a time when the UK government is finalizing new regulations aimed at clarifying the cryptocurrency landscape and addressing potential risks within the market.
Nonetheless, regulators remain vigilant. The FCA has consistently cautioned that cryptocurrencies can lack intrinsic value and pose high volatility risks.
The turmoil in the sector was exacerbated in 2022 by the collapse of FTX and the conviction of its founder, Sam Bankman-Fried.
Despite these adverse developments, institutional interest in cryptocurrencies continues to rise. In recent years, hedge funds and other professional investors have begun to engage actively with the digital asset space, amid a possible shift in political sentiment.
In the United States, former President Trump has taken a pro-crypto stance, potentially signaling a more favorable regulatory environment ahead.
UK to Enforce Mandatory Crypto Trade Reporting
Starting January 1, 2026, the UK will implement a requirement for cryptocurrency firms to collect and report detailed customer information related to every trade and transfer. This initiative is part of a broader strategy to enhance tax compliance and regulatory oversight within the digital asset industry.
According to a statement from HM Revenue and Customs (HMRC), the new regulations will obligate platforms to document users’ full names, home addresses, and tax identification numbers.
Moreover, each transaction will need to include specifics such as the type of cryptocurrency involved and the amount transferred.
This reporting requirement will extend beyond individual users, capturing companies, trusts, and charities that participate in cryptocurrency transactions.
Firms that fail to comply with these regulations or submit incorrect data may face fines of up to £300 ($398) per user.
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