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.
14 Articles
14 Articles
Exploring Ways to Encourage UK Crypto Use While the Taxman Comes Knocking
Cryptocurrency continues to enjoy gradual growth around the world, especially in retail trading circles. More and more useful apps and platforms have arisen to make access to crypto easier and promote its utility. However, there are still some roadblocks and relatively few encouragements to join the community, and now, the British taxman is getting involved. From 1 January 2026, crypto companies will need to collect and report data on each of th…


UK Crypto Regulation Shows Promise But Uncertainty Remains, Clear Junction Poll Finds
Half of industry leaders believe the UK could become a crypto hub, but only if new rules are implemented effectively, Clear Junction poll finds LONDON--(BUSINESS WIRE)--#MiCA--A poll of circa 150 crypto and financial experts, conducted just hours after the UK government published its draft legislation for a comprehensive crypto asset regulatory regime, reveals both optimism and lingering concerns about Britain’s crypto future. The poll took plac…
HMRC to introduce rules for Crypto holders as fresh tax crackdown launched
HMRC is ramping up pressure on cryptocurrency users with the introduction of new measures aimed at curbing tax avoidance. From January 1, 2026, individuals buying and selling cryptocurrencies like Bitcoin and Ethereum will need to provide their personal information to the platforms they use. 1 In the UK, you need to report crypto earnings to HMRC because any profit you make from selling, exchanging, or using cryptocurrency can be subject to ta…
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