Key Notes

HM Revenue & Customs (HMRC) sent out 65,000 crypto tax warning letters last year.

The previous year, the agency sent out only 27,700 letters.

The growing crypto adoption and asset price surge mandate this move.

Crypto firms in the UK are facing challenges as tax authorities in the region intensify warnings about unpaid gains. Reports show that these digital asset firms received more warning letters from the HM Revenue & Customs (HMRC) last year than they did the previous year. This reflects the UK government’s commitment to ramp up its scrutiny of crypto investors.

HMRC Sends Out 65,000 Warning Letters

In a Financial Times report from October 17, it was stated that the HMRC sent out 65,000 letters to crypto investors and organizations in the 2024–25 tax year.

This corres

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