PANews reported on November 27th that UK Chancellor of the Exchequer Reeves, in his Autumn Financial Statement released on Wednesday, did not further increase the capital gains tax rate that already affected cryptocurrency investors last year. Azariah Nukajam, Head of Compliance at Gemini UK, welcomed the decision. "It's great to see that cryptocurrencies will not be subject to a new tax, which means that cryptocurrencies are being treated as equals with other asset classes, ensuring their long-term viability as a viable alternative investment," she said. However, Nukajam pointed out that recent UK legislative and regulatory announcements (such as the proposed new rules for cryptocurrency companies in the draft statutory document), coupled with this budget statement, indicate that "stricter, more 'traditional financial' regulations and tax transparency requirements will proceed as planned."