UK Revenue Service Intensifies its Warnings to Cryptocurrency Investors
The HMRC has significantly increased its outreach to cryptocurrency traders, sending over 65,000 warning letters regarding undeclared capital gains last year.
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The HMRC has significantly increased its outreach to cryptocurrency traders, sending over 65,000 warning letters regarding undeclared capital gains last year.
New regulations set to take effect in 2026 require UK crypto users to disclose specific personal details to service providers. Failure to comply may result in fines.
The UK tax authority, HMRC, will enforce new rules requiring crypto platforms to collect and report user personal information to improve tax compliance.
HMRC has significantly heightened its monitoring of crypto investments by sending over 65,000 warning letters to investors suspected of unpaid taxes.
The UK's HMRC has more than doubled its warning letters to crypto investors amid efforts to enforce tax compliance.
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