The UK government aims to combat tax evasion in the crypto market by implementing stricter tax reporting rules beginning January 2026. Crypto traders must provide personal details to service providers to avoid fines.
These regulations could generate £315 million in tax revenue by April 2030, highlighting the government’s intent to close the tax gap and ensure fair contributions from traders.
Despite the push for compliance, some crypto users criticize the regulations, claiming they disproportionately favor government revenue while not addressing traders’ financial losses.
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