TechFlow news, July 9 — The UK's Her Majesty's Revenue and Customs (HMRC) announced that from January 1, 2026, cryptocurrency users must submit personal details to service providers, including full name, date of birth, address, country of residence, and tax identification number. Users who fail to provide this information may face fines of up to £300 (approximately $408).
The move aims to link users' crypto asset activities with tax records to accurately calculate tax liabilities. The rule applies to all entities classified as crypto asset service providers, including exchanges, wallet apps, NFT marketplaces, and crypto asset management services.
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