Cryptocurrency users in the UK will be obliged to provide certain information to service providers relating to their digital asset activity from 1 January 2026 or risk a fine.
Users must give their full name, date of birth, address, country of residence and tax identification numbers.
Failure to do this could land them a penalty of up to 300 pounds ($ 408).
His Majesty’s revenue and customs (HMRC) Said the information will help users’ crypto activity to be linked to their tax registration to find out how much tax is payable.
The requirement relates to users’ dealings with all companies classified as Crypto service providers. These include exchanges, wallet apps, non-spurious token
Marketplaces and services that help users manage their crypto portfolios.
Read more: Crypto for advisers: It’s Tax Time
