The UK has declared a fresh crackdown on cryptocurrency holdings. The concept compels digital asset providers, including exchanges, to provide precise financial information about UK taxpayers.

Major Shift In Crypto Trading Oversight

According to the Financial Times, cryptocurrency holders have been cautioned that, starting January 1, 2026, major cryptocurrency exchanges will be mandated to collect extensive transaction records from their UK customers.

This includes crucial details such as purchase prices, selling amounts, and profits accrued from these transactions, as part of a broader initiative to combat tax avoidance.

His Majesty’s Revenue & Customs (HMRC) will gain further visibility into the financial activities of cryptocurrency holders as these exchanges are tasked

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