Crypto exchanges must pay digital services tax, HMRC says

HMRC has told cryptocurrency exchanges that they will not be exempt from the digital services tax, as online financial marketplaces are, arguing that crypto assets “are not financial instruments” and do not qualify as commodities or money. Ian Taylor of Crypto UK, an industry body lobbying HMRC and the Treasury over the issue, said the move was a new blow to cryptocurrency exchanges after the “arduous” licensing regime introduced by the Financial Conduct Authority, and would lead to higher fees for people buying and selling cryptocurrencies.

 

The Sunday Telegraph

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