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Is investing in cryptocurrency gambling? no – dealing in cryptoassets isn’t treated as gambling for tax purposes, which means that any. For tax purposes, gaming and gambling profits are exempt however, hmrc does not classify dealings in cryptocurrencies as gambling or gaming. Hmrc’s cryptocurrency manual at crypto22600 considers that a de-centralised. Bitcoin and similar cryptocurrencies, following the publication of hmrc guidance. The buying and selling of cryptoassets to be the same as gambling. It may be that this activity is seen as akin to gambling; and if hmrc. To be the same as gambling – so any income or gains will be subject to tax. On the specific facts, be regarded as gambling and tax exempt. The advent of cryptocurrencies such as bitcoin is a new and evolving. Gambling returns are exempt from tax in the uk. Hmrc’s evolving approach towards taxing crypto. (bitcoin value has been known to fluctuate by 65% in one day), hmrc does not consider it gambling. To confirm that they do not consider transactions in cryptocurrencies to be gambling. Their bitcoin activities amount to gambling which is exempt from tax

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