A March 2025 survey by Crypto Casinos finds that 48% of UK adults now own or have owned a crypto wallet, with 15% aged 55+. Retailers like CeX and Lush accept Bitcoin, and regulatory bodies including HMRC and the FCA are adapting frameworks as digital finance gains mainstream traction across the UK.
A recent nationwide survey conducted by Crypto Casinos highlights a significant shift in the UK’s financial habits, with nearly half of British adults now engaging with cryptocurrency. The survey, carried out in March 2025, reveals that 48% of respondents own or have previously owned a crypto wallet. Notably, 15% of these users are aged 55 and above, indicating a growing adoption among older demographics.
The survey includes responses from 2,500 adults across England, Scotland, Wales, and Northern Ireland. Conducted online, the poll represents the UK population across age, gender, and region. Participants were questioned on their cryptocurrency ownership, usage behaviours, and general perceptions of digital finance.
Retail and sectoral response to cryptocurrency use
As consumer interest in digital assets grows, industries across the UK are beginning to respond. While most high street retailers have yet to adopt cryptocurrency as a payment method, some businesses have taken early steps toward integration.
Electronics retailer CeX accepts Bitcoin in both its physical stores and online platform. Similarly, Lush Cosmetics allows Bitcoin payments through a partnership with BitPay. These developments signal a shift among selected UK retailers towards embracing digital transactions.
One of the most notable adoptions comes from the education sector. Lomond School in Scotland has become the first educational institution in the UK to accept Bitcoin for tuition payments. The school aims to support international families by reducing currency conversion issues and offering more flexible payment options.
Additionally, UK consumers are able to use cryptocurrencies indirectly through platforms like BitPay and CoinGate, which allow the purchase of gift cards for major retailers such as Argos, ASDA, Costa Coffee, and Tesco. This development provides another avenue for digital finance to enter mainstream retail without requiring direct crypto payment systems.
UK Regulatory Developments in Digital Finance
As public engagement with cryptocurrencies increases, regulatory institutions are evolving their frameworks to address the financial and legal implications of digital assets.
His Majesty’s Revenue and Customs (HMRC) has issued clear guidelines on the taxation of cryptocurrency:
Capital Gains Tax (CGT) applies to profits made from selling cryptocurrencies. The tax-free threshold has been reduced to £3,000 for the 2024–2025 tax year. Any gains above this amount are taxed at 10% for basic rate taxpayers and 20% for those in the higher bracket.
Income Tax applies to earnings from mining, staking, or receiving crypto payments. These are taxed as regular income at rates between 0% and 45%, depending on the individual’s tax band.
HMRC has also increased compliance efforts, including sending reminder letters to individuals suspected of underreporting gains from digital assets.
In parallel, the Financial Conduct Authority (FCA) is moving towards the implementation of a structured regulatory framework. Planned measures include capital requirements for crypto firms and regulations to prevent insider trading and market abuse. Full implementation of these guidelines is expected by 2026.
Meanwhile, the Bank of England continues its research into a potential central bank digital currency. The “digital pound” remains under review, with a formal decision expected in 2025. If implemented, it would mark a significant development in the UK’s approach to state-backed digital assets.
Pallavi Singal is the Vice President of Content at ztudium, where she leads innovative content strategies and oversees the development of high-impact editorial initiatives. With a strong background in digital media and a passion for storytelling, Pallavi plays a pivotal role in scaling the content operations for ztudium’s platforms, including Businessabc, Citiesabc, and IntelligentHQ, Wisdomia.ai, MStores, and many others. Her expertise spans content creation, SEO, and digital marketing, driving engagement and growth across multiple channels. Pallavi’s work is characterised by a keen insight into emerging trends in business, technologies like AI, blockchain, metaverse and others, and society, making her a trusted voice in the industry.
