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. They rely on help to navigate tax obligations. The survey with responses from over 250 participants in April 2025, tells a picture of how crypto users approach the aspects of investing that is the taxes.
The results highlighted a sense of confusion and frustration. Nearly half of respondents, you can say 45% of them, admitted that they often struggle to determine which transactions are counted taxable. Meanwhile, 50% of them said that their country’s tax guidance is too hard to even understand. The message is clear that when it comes to crypto taxes, users are choosing the platforms whom they trust and not the official tax offices.
“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
So, one of the most revealing findings was the tendency toward self-navigation. Even with the tax complexity, 56% of respondents said that they never consult a tax specialist. This shows a growing demand for easy-to-use, automated tax tools that integrate easily with crypto platforms.
Even users who feel confident in their ability to report taxes still hit a wall when it comes to understanding taxable events. That’s why Nexo is doubling down on automated tools and intuitive interfaces, especially through their partnership with Koinly.
In response, Nexo has ramped 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? Empower users with the resources they need to file with confidence without having to rely on expensive accountants or even the poorly explained government documentation.
Crypto Industry Steps Up to Fill the Gap
The survey findings arrive at a time when crypto tax regulation is gaining traction across global jurisdictions. Regulatory clarity hasn’t necessarily kept pace with adoption. As governments continue to catch up, crypto companies like Nexo and Koinly are stepping in to fill the gap.
Nexo believes the responsibility of a premier digital asset platform goes beyond offering trading and lending services. They also provide their clients with the infrastructure to manage taxes effectively. That’s not just good service, but it’s essential to 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
Nexo emphasized that this survey was not just about collecting data. It was an effort to improve the client experience. By listening directly to its users, the platform hopes that it stays ahead and sets a new standard in crypto tax support.
As the crypto space matures, initiatives like this show that a growing recognition which is managing digital assets means alot to users. It’s more than just buying low and selling high. It also means navigating the real-world implications that come with it which include taxes.
In the absence of clear public guidance, one thing is clear that the investors are looking for those platforms that they can trust to help them. This will make them take the right decision and do the right thing without the red tape.
