More Than 60% of Crypto Investors Rely on the Crypto Industry and Not Governments to Navigate Tax Obligations

A recent survey by Nexo, which is a leading digital asset wealth platform, reveals that more than 60% of crypto investors rely on the crypto industry and not governments.

A recent survey by Nexo, a leading digital asset wealth platform, has revealed that over 60% of crypto investors rely on the industry, not governments, for help in navigating tax obligations.

The survey, which had input from over 250 participants in April 2025, painted a picture of how crypto users are approaching the crucial aspect of investing: taxes.

Its results highlighted a sense of confusion and frustration. Nearly half of respondents admitted they often struggle to identify which transactions are considered taxable, while 50% said their country’s tax guidance was too difficult to comprehend.

The message was clear: When faced with a choice between a platform they trust and the official tax office, crypto users are opting for the former.

“Users are turning to the industry for tax help, not governments. That puts the onus on us to show up with clarity,” said Michelle Legge, Head of Crypto Tax Education at Koinly, during an X Space co-hosted with Nexo. Michelle discussed the survey findings and the industry’s evolving role in tax education.

Investors Prefer DIY and Automated Tools Over Tax Professionals

One of the most revealing findings was the tendency toward self-navigation. Despite the complexity of crypto taxes, 56% of respondents said they never consulted a tax specialist. This highlights the growing demand for easily accessible and automated tax tools that integrate seamlessly with crypto platforms.

Even users who felt confident in their ability to report taxes hit a wall when attempting to understand taxable events.

This is where Nexo’s partnership with Koinly comes into play, as they are focused on providing users with the best possible tools and knowledge to take control of their crypto taxes.

In response, Nexo has stepped up efforts to simplify tax reporting with a curated educational hub. Developed in collaboration with Koinly, the platform includes country-specific guides and articles aimed at demystifying crypto tax requirements. The goal is to empower users with the resources they need to file with confidence without having to rely on expensive accountants or the government's documentation.

Crypto Industry Steps Up to Fill the Gap

The survey findings come at a time when crypto tax regulation is gaining momentum across global jurisdictions. However, regulatory clarity hasn't necessarily kept pace with the rapid adoption of digital assets.

As governments continue to adjust and introduce new measures, crypto companies like Nexo and Koinly are stepping in to fill the void and provide valuable resources to investors.

Nexo believes the responsibility of a premier digital asset platform extends beyond offering trading and lending services. It also includes equipping clients with the infrastructure to manage taxes effectively. This isn't just about good service; it's crucial for unlocking the full value of crypto portfolios.

By offering integrated tax tools, educational content, and continued collaboration with compliance-focused partners, Nexo aims to make crypto taxes less of a headache and more of a seamless part of the investment process.

A Grassroots Effort with Real Impact

The initiative underscores a broader recognition within the crypto space that the administrative aspect of managing digital assets matters deeply to users. It goes beyond the economic gains of buying low and selling high. It also includes navigating the real-world implications, such as tax reporting.

In the absence of clear public guidance, investors are naturally gravitating toward the platforms they can trust to help them make the right decisions and avoid any potential pitfalls.