From Cointelegraph

June 9, 2025 9:22 pm:

The UK Insolvency Service appoints first crypto intelligence specialist to recover crypto assets from bankruptcy and criminal cases. Crypto-related insolvency cases in the UK have increased by 420% in the last five years, with assets valued at 523,580 British pounds ($709,500). Crypto ownership in the UK is rising, with 12% of UK adults owning crypto in 2024, up from 4% in 2021, holding an average value of 1,842 British pounds ($2,496).

Andrew Small, a former police investigator with a background in economic crime, will lead efforts to trace and reclaim crypto assets in insolvency cases. The Insolvency Service aims to recover funds owed to creditors by tracing and recovering money and assets. Small will provide specialist knowledge on various cryptocurrencies, including Bitcoin, Ether, memecoins like Dogecoin, and NFT artworks.

The UK plans to require crypto firms to report every customer transaction starting Jan. 1, 2026, to improve crypto tax reporting. UK crypto companies must collect and report data on customer trades and transfers, including full names, home addresses, and tax identification numbers. The new rule aligns with the Organisation for Economic Development’s Cryptoasset Reporting Framework to enhance transparency in crypto tax reporting.

Read more at Cointelegraph: UK Appoints Crypto Specialist Reclaim Creditor Funds