institutional access

You are connecting from
Lake Geneva Public Library,
please login or register to take advantage of your institution's Ground News Plan.

Published loading...Updated

New HMRC Rules for Anyone with Cryptocurrency Could See You 'Fined' - Birmingham Live

  • From January 1, 2026, UK cryptocurrency firms must report comprehensive user and transaction data to HMRC under new regulations.
  • These rules respond to increased crypto usage and aim to reduce tax avoidance by requiring detailed information from crypto exchanges and service providers.
  • Firms will collect users' names, birth dates, addresses, tax IDs, crypto types, transaction values, and units, while verifying data accuracy through due diligence.
  • HMRC warns of fines up to £300 per user—about $399—for incomplete or inaccurate reports, emphasizing compliance readiness and system upgrades for firms.
  • This regulatory shift aligns the UK with global standards to enhance crypto market transparency while supporting industry growth and protecting consumers.
Insights by Ground AI
Does this summary seem wrong?

14 Articles

All
Left
Center
1
Right
Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/yearSubscribe

Bias Distribution

  • 100% of the sources are Center
100% Center
Factuality

To view factuality data please Upgrade to Premium

Ownership

To view ownership data please Upgrade to Vantage

Blockchain & Cryptocurrencies Tabloid broke the news in on Monday, May 19, 2025.
Sources are mostly out of (0)