What is Monero
Monero is a cryptocurrency launched in 2014, designed from the outset to guarantee complete anonymity for every transaction through technologies like Ring Signatures and Stealth Addresses, unlike Zcash, where privacy is optional.
Because of this default privacy, it's been delisted from many regulated exchanges in Europe and elsewhere in recent years, which has reduced its accessibility for retail investors compared with other major cryptocurrencies.
Frequently asked questions
Is Monero regulated in the UK?
The UK has its own evolving regime for cryptoasset regulation, separate from the EU's MiCA framework. Crypto exchanges and custodians must register with the FCA for anti-money laundering purposes, but this doesn't equate to the investor protections that regulated financial instruments like ETFs and shares carry.
What's the difference between buying Monero on an exchange versus via an ETP?
On an exchange you hold the keys directly (or the exchange custodies them for you); an ETP (Exchange Traded Product) is instead a listed financial instrument that tracks the price, purchasable through the same broker account you'd use for ETFs and shares.
How is Monero taxed in the UK?
Gains from cryptocurrencies in the UK are generally subject to Capital Gains Tax, with specific rules that differ from those for ETFs and shares held in an ISA — this is an evolving area, so check the latest HMRC guidance or speak to a tax adviser for your situation.
