HMRC targets crypto investors with 65,000 warning letters for suspected tax evasion, up 134% from last year. Data from exchanges aids identification of potential tax dodgers. Global trend as India pursues 400+ crypto tax evaders. HMRC to access more data through global Crypto-Assets Reporting Framework from 2026.

UK tax rules treat most crypto as investments subject to Capital Gains Tax. Mining, staking, airdrops, and employment income are taxed separately. Recent increase in CGT rates to 18% for basic-rate, 24% for higher-rate taxpayers. Regulator lifts ban on crypto ETNs, expecting 20% boost in domestic crypto activity.

UK government plans to appoint “digital markets champion” to accelerate adoption of blockchain-based financial infrastructure. Official to oversee tokenization of wholesale financial instruments and ensure innovation aligns with regulations.

Read more at Yahoo Finance: UK Tax Authority Sends 65,000 Crypto ‘Nudge Letters’ to Suspected Tax Evaders