Here is your twice-weekly round-up of UK crypto news, explained in plain English for beginners.
Bitcoin fell sharply on 29 April 2026 after the US Federal Reserve voted to hold interest rates at 3.5% to 3.75%. The vote was unusually divided — eight members voted to hold, four wanted to cut — making it the most split Fed decision in over 30 years. Bitcoin dropped from around £59,500 to below £58,000 in the hours that followed.
The Federal Reserve (often called “the Fed”) is the US central bank. It sets interest rates, which affect how much it costs to borrow money. When rates are high, investors tend to pull money out of riskier assets like crypto and put it into safer options. When rates fall, the opposite tends to happen — money flows back into crypto and shares.
This is now the ninth time in ten Fed meetings that Bitcoin has dropped in the immediate aftermath of the decision. The pattern is so consistent that traders have a name for it: the “sell the news” effect. Markets often rise in anticipation of a rate cut, then fall when the announcement fails to deliver one.
For you as a beginner, this is a useful reminder that Bitcoin does not move in a vacuum. Global economic decisions — especially US interest rate calls — directly affect crypto prices, often within hours. Understanding this connection helps you make sense of sudden price moves that might otherwise seem random.
Takeaway: When you see Bitcoin fall sharply, check whether a major economic announcement just happened. The Fed meeting calendar is public and widely covered — it is worth knowing when the next one is.
Source: Bitcoin and Ethereum prices: values falling ahead of Fed meeting — Yahoo Finance
Want to understand why prices move the way they do? Our glossary explains terms like interest rates, market sentiment, and volatility in plain English.
From 1 January 2026, crypto exchanges and platforms operating in the UK are legally required to collect data on their users and report it to HMRC — the UK’s tax authority. This is part of an international framework called CARF, the Cryptoasset Reporting Framework, developed by the OECD (a group of 38 countries that collaborate on economic policy).
What does this mean in practice? Any registered crypto platform you use — Coinbase, Kraken, Binance UK, and others — must record your full name, date of birth, address, National Insurance number, and details of every transaction you make. This includes buying and selling crypto, swapping one coin for another, moving funds between wallets, and in some cases paying for things with crypto. Platforms must file annual reports with HMRC, with the first reports due by 31 May 2027 covering all of 2026.
The UK will then share this data automatically with other tax authorities around the world, including all EU countries, the Channel Islands, Brazil, and the Cayman Islands. If you hold crypto on an overseas platform, those countries will share data back with HMRC.
Why does this matter? The days of crypto being an untraceable financial activity are over. HMRC already treats crypto gains as taxable. Capital gains tax on crypto profits currently stands at 18% for basic-rate taxpayers and 24% for higher-rate taxpayers. The annual tax-free allowance is just £3,000 for the 2026/27 tax year. If you have made gains and not declared them, now is the time to get your records in order.
Takeaway: If you use a registered crypto platform, HMRC will know about your activity. Keep records of every transaction — the date, amount, and value in pounds at the time. A crypto tax calculator can help.
Source: What to know about crypto tax changes in 2026 — Yahoo Finance UK
Not sure what counts as a taxable crypto event? Visit our glossary for a plain-English breakdown of capital gains tax and how it applies to crypto.
The UK’s National Crime Agency (NCA) joined forces with law enforcement from the US and Canada in April 2026 to dismantle a global cryptocurrency fraud network. The operation, called Operation Atlantic, identified over 20,000 cryptocurrency wallets linked to victims across 30 countries and froze £9.5 million ($12 million) in stolen funds. The total estimated value of the fraud stood at around £35 million ($45 million).
The scam worked by tricking victims into granting criminals access to their cryptocurrency wallets. Fraudsters used social media platforms — including X (formerly Twitter), Instagram, and Facebook — to promote fake investment opportunities. In many cases they hijacked legitimate social media accounts to make their pitches look credible. One UK victim lost over £52,000.
This type of scam has a name: “approval phishing.” You receive what looks like a legitimate request to connect your crypto wallet to a platform or investment service. Once you approve it, the criminals can drain your wallet without needing your password.
What can you do to protect yourself? Never connect your crypto wallet to a platform you have not thoroughly researched. Be suspicious of any investment opportunity promoted on social media, especially if it promises high returns. The FCA maintains a warning list of unauthorised firms at fca.org.uk/consumers/warning-list.
Takeaway: Never approve a wallet connection request you did not initiate. If someone on social media is promoting a crypto investment — even from an account you recognise — treat it as suspicious until you can verify it independently.
Source: US, UK, Canadian cops disrupt $45M global crypto scam — The Register
New to crypto and want to know how to stay safe? Read our guide at what is crypto for the basics, including how to spot a scam.
NoobCrypto is an information site only. Nothing in this post is financial advice. Cryptocurrency is high risk. Always do your own research.