The post UK Cracks Down on Crypto Taxes as Warning Letters Surge appeared on BitcoinEthereumNews.com. Regulations Britain’s tax authority is tightening its grip on crypto investors, dramatically ramping up enforcement against undeclared gains. Nearly 65,000 warning notices were sent out in the latest tax year – more than double the previous year – signaling a new phase in the country’s digital asset crackdown. The letters, quietly issued by HM Revenue & Customs (HMRC), serve as preemptive nudges urging investors to amend their tax filings before formal investigations begin. The surge reflects how aggressively the agency is pursuing compliance as crypto adoption accelerates. Over the past four years, HMRC has now sent more than 100,000 of these notices. According to the Financial Conduct Authority, an estimated seven million adults in the UK now own crypto – a sharp rise from just over two million in 2021. Yet many traders still fail to realize that simply exchanging one token for another can trigger capital gains tax, warned Neela Chauhan of UHY Hacker Young, the firm that obtained the data. HMRC’s reach is also expanding. It already collects user data from major exchanges and, starting in 2026, will automatically receive global crypto transaction information under the OECD’s Crypto-Assets Reporting Framework. A Global Push for Compliance The UK’s tougher stance mirrors moves in other major economies. In the United States, lawmakers are exploring new tax exemptions for small crypto payments and debating how staking rewards should be classified. Coinbase’s tax chief has urged Congress to introduce a $300 de minimis threshold to simplify reporting. Meanwhile, South Korea’s National Tax Service has warned that even assets stored in cold wallets could be seized from citizens evading tax obligations – underscoring a worldwide trend of closing loopholes across digital markets. As regulators tighten oversight from London to Seoul, the message is clear: the days of casual crypto trading without tax consequences… The post UK Cracks Down on Crypto Taxes as Warning Letters Surge appeared on BitcoinEthereumNews.com. Regulations Britain’s tax authority is tightening its grip on crypto investors, dramatically ramping up enforcement against undeclared gains. Nearly 65,000 warning notices were sent out in the latest tax year – more than double the previous year – signaling a new phase in the country’s digital asset crackdown. The letters, quietly issued by HM Revenue & Customs (HMRC), serve as preemptive nudges urging investors to amend their tax filings before formal investigations begin. The surge reflects how aggressively the agency is pursuing compliance as crypto adoption accelerates. Over the past four years, HMRC has now sent more than 100,000 of these notices. According to the Financial Conduct Authority, an estimated seven million adults in the UK now own crypto – a sharp rise from just over two million in 2021. Yet many traders still fail to realize that simply exchanging one token for another can trigger capital gains tax, warned Neela Chauhan of UHY Hacker Young, the firm that obtained the data. HMRC’s reach is also expanding. It already collects user data from major exchanges and, starting in 2026, will automatically receive global crypto transaction information under the OECD’s Crypto-Assets Reporting Framework. A Global Push for Compliance The UK’s tougher stance mirrors moves in other major economies. In the United States, lawmakers are exploring new tax exemptions for small crypto payments and debating how staking rewards should be classified. Coinbase’s tax chief has urged Congress to introduce a $300 de minimis threshold to simplify reporting. Meanwhile, South Korea’s National Tax Service has warned that even assets stored in cold wallets could be seized from citizens evading tax obligations – underscoring a worldwide trend of closing loopholes across digital markets. As regulators tighten oversight from London to Seoul, the message is clear: the days of casual crypto trading without tax consequences…