Starting Jan 1, 2026, 🇬🇧 UK will require all digital asset platforms, both local and foreign serving UK users, to collect and report their user and transaction data to HM Revenue & Customs.
Failure to comply could mean fines of £300 per user.
Discussion
Exchanges in Australia are already compelled to snitch on us to our tax department.
Wow! I wonder how customs will keep track on this since its often not related to physical goods. Are they targeting hardware wallets by this?
Sorry UK government but Bitcoin can and is used peer to peer. Try tracking that bitch.