Crypto tax rackdown intensifies as UK regulator sends 65,000 letters to Vandals – Details
According to a recent report, the United Kingdom Table Authority has sent tens of thousands of “nudge letters” to people suspected of owing or dealing with their crypto asset taxes. This move reflects the increased tax treatment of cryptocurrency investors around the world over the past year.
The UK tax regulator to receive user data from global exchanges from 2026
In a report on October 17, the Financial Times (FT) revealed that the UK’s A tax Author Authority & Customs (HMRC) has sent almost 65,000 letters to digital asset managers who are suspected of taxing their profits. These letters, formally known as “Nudge Letters,” are written to ask investors to prepare their tax charts before a formal investigation.
This figure, which represents an increase of 134% from last year’s books, was obtained by the accounting firm Uhh Hacker Young, which submits Freedom of Information Act requests to HMRC. Neala Chauhan, a partner in the field of accounting, revealed to the financial times that the tax settings of the UK are now receiving data of purchases directly from finding and verifying crypto tax accounting cases.
Chauhan told Ft:
The tax laws surrounding Crypto are quite complex, and now there is a volume of people trading in Crypto and who do not understand that even from a single payment, it is subject to tax.
In addition, HMRC will also have access to user information from global exchanges from January 2026 under the organization of economic cooperation and development.
The UK CRYPTO Scene continues to expand, with regulation of digital assets seemingly improving in the region. Recently, this authority of financial conduct raised its notes Crypto-linked notes (etns), which allowed asset managers to offer direct digital asset exposure to those retail traders on the London Stock Exchange.
India tax authority A odabe of Minance traders
Crypto Taxation has been on the rise worldwide, with other tax authorities investigating digital asset sellers and digital asset managers for suspected tax evasion.
As Bitcoinist reports, the income tax department under the Central Board of Taxation (CBDT) in India recently ordered the top 400 PREO (HNI) to hide their crypto trading on the binance exchange.
These investors are accused of evading the digital asset Diason’s taxes between 2022-23 and 2024-25, while failing to disclose their money in different exchanges outside the country.
Related reading: Japan’s central banks plan joint run of Stablecoin rollout in year – Report
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