Gains on Bitcoin may Not be Taxable in the UK, Thanks to a Loophole


The United Kingdom government could lose millions in revenue due to a loophole that curtails crypto gains to zero, say financial experts.

Every country has its own laws for every sector of society. However, cryptocurrency has become a novel, yet major issue for global governments due to its convenience for tax evasion and money laundering. Her Majesty’s Revenue and Customs (HMRC), a department responsible for the collection of taxes in the UK, surmises that the number of taxpayers would increase due to the snowballing effect of the cryptocurrency market.

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