From January 1, 2023, the United Kingdom will implement a tax exemption policy for foreign investors who appoint local brokers or investment managers to invest in cryptocurrencies. HMRC said the tax exemption was an important factor in attracting global investors, meaning foreign investors would not be brought under UK tax simply by appointing a UK investment manager. In an effort to cement the UK's status as an investment management hub, the exemption has been extended to include crypto assets so that crypto-related funds do not delay the appointment of UK managers.