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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 UK must now pay a 2 % tax for digital services.Report. Britain’s tax authority, HMRC, does not recognize digital assets as financial instruments and therefore exchanges are not eligible for financial exemptions.

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