‘Crypto Bros’ Targeted in Britain’s Latest Tax Crackdown
New reporting regulations set to come into force in January 2026 will target crypto investors in Britain as the government ramps up its tax collection.
The new framework from the UK tax department (His Majesty’s Revenue and Customs) specifically targets “tax-evading crypto bros,” reported finance outlet Money Week this week.
The government claims that its coffers will be filled with £315 million ($US428 million) over the next five years from this latest tax raid.
Reams of Personal Data
Crypto exchanges and service providers must collect and report users’ full personal details and transaction summaries to the tax department or face fines of up to £300 ($407) per user. Investors who don’t comply with the…
