New HMRC DST guidance notes cryptoasset exchanges and platforms are unlikely to qualify for the exemption for online financial marketplaces.
HMRC recently issued updated Digital Service Tax (DST) guidance stating that cryptoassets are unlikely to meet the definition of financial instruments, commodities or foreign exchange. This means that exchanges dealing in such assets are unlikely to qualify for the exemption for online financial marketplaces. Accordingly, such exchanges/platforms will need to revisit whether they meet the definition of an online marketplace and whether they could be subject to the DST on their applicable revenues.
Source KPMG
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