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By Jamie Crawley|Edited by Parikshit Mishra
Jul 9, 2025, 10:32 a.m.
- Cryptocurrency users in the U.K. will be required to provide certain information to service providers relating to their digital asset activity from Jan. 1 2026.
- Failure to do so could land them a penalty of up to 300 pounds ($408).
- HMRC said the information will help users’ crypto activity be linked to their tax record to work out how much tax is payable.
Cryptocurrency users in the U.K. will be required to provide certain information to service providers relating to their digital asset activity from Jan. 1 2026, or risk a fine.
Users must provide their full name, date of birth, address, country of residence and tax identification numbers.
STORY CONTINUES BELOW
Failure to do so could land them a penalty of up to 300 pounds ($408).
His Majesty’s Revenue and Customs (HMRC) said the information will help users’ crypto activity be linked to their tax record to work out how much tax is payable.
The requirement pertains to users’ dealings with all businesses classed as crypto service providers. These include exchanges, wallet apps, non-fungible token
marketplaces and services that help users manage their crypto portfolios.
Read More: Crypto for Advisors: It’s Tax Time
Jamie has been part of CoinDesk’s news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
