UK to Impose £300 Fines for Concealing Crypto HoldingsThe United Kingdom is preparing to slap crypto investors and service-providers with fixed financial penalties if they fail to hand over key user data to the tax office. A draft regulation published by HM Treasury confirms that anyone who withholds required personal details—such as name, address and tax ID—could face an immediate £300 fine (about US $408) and additional daily charges until the information is supplied. The measure implements the Crypto-Asset Reporting Framework (CARF) drawn up by the OECD and is scheduled to take effect on 1 January 2026.
“These regulations will close a critical transparency gap and give HMRC the tools to detect and deter offshore tax evasion involving cryptoassets,” the Treasury said in the explanatory note to Parliament.
Read full article on websiteStay Connected:Twitter
x.com/Marketexch_ioTelegram
t.me/Marketexchange_ioExchanger
Marketexchange.io
