The situation is much worse in the UK. Ebery time you exchange one crypto for another it's a taxable event. There are even rules to prevent you selling it in the last month of the tax year and then buying it back at the beginning of the next one. There is a lot of talk in UK tax discords about moving to places like Portugal or Malta so as not to have to pay capital gains tax on crypto earnings.

However, you have to live abroad for 5 years before you can choose tax in another country and you can't have abiding ties in the UK while you do so.

Add to that the government has said they may reduce the capital gains allowance substantially in a couple of months and things are not looking good. 

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