Crypto exchanges not exempted from taxes, says HMRC
Her Majesty's Revenue and Customs or HMRC dragged crypto exchanges and imposed tax on these firms. These platforms where people exchange cryptocurrencies are not to be exempt from taxes like other financial services companies.
Crypto exchanges on HMRC's radar
The tax office claims that there is no chance for these crypto exchanges to qualify for tax exemption "which fall under the tax which is designed to ensure that tech companies like Google, Facebook, and Amazon pay more at the Exchequer," said a report.As per the tax authority, these crypto exchanges "are not financial instruments." Cryptocurrencies are not cash or commodities from a legal perspective which means that online platforms facilitating the sale of these blockchain-based currencies can't claim for a tax exemption.
The digital services tax is applied to all social media or digital services providers. A percent needs to be paid to the proper authorities by these service providers, which have a year turnout of 500 million pounds all over the world and of over 25 million pounds in the UK alone.
Coinbase, the largest crypto exchange in the United States, will be liable to pay taxes to the UK government. The UK subsidiary reported a growth of 18 million pounds over the past year and says that it has quadrupled its global profits in 2021.
HMRC being unfair
This will definitely affect the UK subsidiary. However, crypto exchanges were quick to retaliate to the comments made by the HMRC. According to CryptoUK, the HMRC is unfair and unjustified, claiming cryptocurrency exchanges as a non-financial body.These platforms are considered commodities in the United States and, therefore, exempted from taxes. According to a statement by HMRC, "there is a wide variety of crypto assets, each with different characteristics," and since they do not come under commodities or currencies, "crypto-asset exchanges are unlikely to qualify for the exemption for financial markets in line."
CryptoUK commented that the HMRC is creating hurdles for crypto exchanges and investors alike. After the "onerous" licensing process by the Financial Conduct Authority (FCA), this rule will lead to a rise in trading fees for investors.
Continue reading by joining Cryptonary Pro
$997/year
Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.
For your security, all orders are processed on a secured server.
As a Cryptonary Pro subscriber, you also get:
Success Guarantee, if we don’t outperform the market, you get 100% back, no questions asked
24/7 access to experts with 50+ years’ experience
All of our top token picks for 2025
Our latest memecoins pick with 50X potential
On hand technical analysis on any token of your choice
Weekly livestreams & ask us anything with the team
Daily insights on Macro, Mechanics, and On-chain
Curated list of top upcoming airdrops (free money)
100% Success Money Back Guarantee
If our approach doesn’t outperform the overall crypto market during your subscription, we’ll give you a full refund of your membership. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut through the noise and consistently find winning assets.
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
Frequently Asked Questions
Can I trust Cryptonary's calls?
Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.
Do I need to be an experienced trader or investor to benefit?
No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.
What makes Cryptonary different from free crypto content on YouTube or Twitter?
Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.
Why is there no trial or refund policy?
We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.
Do I get direct access to the Cryptonary team?
Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.
How often is content updated?
Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.
How does the success guarantee work?
If our approach to the market doesn’t beat the overall crypto market during your subscription, we’ll give you a full refund of your membership fee. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.
Recommended from Cryptonary
