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UK digital services tax targets crypto exchanges -Breaking

by Mike Robinson

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A recent update to Her Majesty’s Revenue and Customs (HMRC) regulations has introduced a digital services tax that will be levied on cryptocurrency exchanges operating in the United Kingdom.

A Telegraph report states that crypto exchanges in the U.K. must now pay a 2.2% tax on digital services.Report. Britain’s tax authority, HMRC, does not recognize digital assets as financial instruments, and therefore, exchanges are ineligible for financial exemptions.

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