What is Sui
Sui is a smart contract blockchain launched in 2023, developed by a team founded by former Meta (Facebook) engineers who had worked on the now-discontinued Diem cryptocurrency project.
It uses the Move programming language (derived from the Diem project itself) and an object-based data model designed to process more transactions in parallel, aiming for better scalability than older blockchains.
Frequently asked questions
Is Sui 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 Sui 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 Sui 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.
