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UK Tax Authority Demands Crypto User Transparency by 2026

1/1/2026

Summary

Story summary

Starting January 1, 2026, Her Majesty's Revenue and Customs (HMRC) requires cryptocurrency users to share account details with tax officials or face penalties to enforce capital gains tax.
HMRC will automatically collect data from cryptocurrency exchanges to address unpaid taxes, recovering £300 million over five years.
The financial watchdog is consulting on stricter regulations to prevent insider trading.
HMRC offers a disclosure facility to report undeclared gains before April 2024.

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Story summary

Starting January 1, 2026, Her Majesty's Revenue and Customs (HMRC) requires cryptocurrency users to share account details with tax officials or face penalties to enforce capital gains tax.
HMRC will automatically collect data from cryptocurrency exchanges to address unpaid taxes, recovering £300 million over five years.
The financial watchdog is consulting on stricter regulations to prevent insider trading.
HMRC offers a disclosure facility to report undeclared gains before April 2024.