UK Targets Crypto Traders in Tax Compliance Initiative

UK government targets cryptocurrency traders with new tax compliance rules, impacting BTC and ETH holders, estimated to boost revenue by £315m by 2030.

Key Points:

Main event led by HM Treasury and HMRC.
New rules target tax dodgers with penalties.
Expected to generate £315 million by 2030.

The United Kingdom government is targeting crypto traders with new tax compliance rules aimed at closing loopholes by January 2026.

The HM Treasury and HM Revenue & Customs (HMRC) have announced a crackdown targeting cryptocurrency traders to ensure tax compliance. Exchequer Secretary James Murray stated the initiative aims to prevent tax dodging and sustain public service funding.

“The rules will ensure tax dodgers have nowhere to hide and help fund essential public services through improved compliance.” – James Murray, Exchequer Secretary, HM Treasury

By including all crypto holders and service providers, the rules require collecting and submitting personal tax reference numbers. Jonathan Athow of HMRC clarified that the new requirements aren’t a new tax but will aid compliance. Penalties for non-compliance will reach £300 per offense beginning in 2026.

Financially, the changes are expected to increase tax revenue by £315 million by April 2030. The scope covers main cryptocurrencies like Bitcoin, Ethereum, and Dogecoin, alongside NFTs and assets in DeFi platforms. Observers highlight the pressures on exchanges and wallet providers.

Self-assessment forms previously demanded crypto gains disclosure, whereas the new rules formalize real-time data sharing. Globally, the UK’s approach aligns with the OECD’s Crypto Asset Reporting Framework, ensuring cross-border tax consistency.

Similar enforcement in the US and EU saw initial market disruptions but improved compliance over time. While no reactions surfaced from leading crypto figures, HMRC’s proactive measures emphasize transparency to prevent penalties.

The initiative’s broader implications could moderate trading volumes and DeFi engagement domestically. Historical precedents signal market adjustments and increased administrative demands on stakeholders, steering the UK cryptocurrency sector towards greater regulatory alignment.

贝莱德ETF钱包转入Coinbase 3215枚BTC与3.89万枚ETH｜链上侦探

据 BlockBeats 10 月 23 日消息，链上监测平台 Onchain Lens 追踪到贝莱德旗下 ETF 钱包向 Coinbase 转入 3,215 枚 BTC 和 38,900 枚 ETH。报道援引合计约 3. 5563 亿美元，但未注明估值时点与价格口径，该金额暂视为参考数据而非独立核实结果。