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HMRC taxes cryptocurrency depending on how you deal with cryptocurrency.
If you hold cryptocurrency as a personal investment, you will be subject to Capital Gains Tax rules. This means that you are taxed on the capital gain at the time the cryptocurrency is disposed of (e.g. sold, traded, used for a purchase, etc.). The capital gain is the difference between the GBP value of the disposed asset at the time of the disposition minus the GBP value of the disposed asset (how much you paid for it) at the time it was acquired.
Capital gains tax (CGT) generally only applies if you are resident in the UK.