UK Crypto Users Face Stricter Rules as KYC Concerns Grow

Quick Summary:

The United Kingdom is set to implement stringent regulations requiring cryptocurrency firms to collect and report detailed personal data from users, starting January 1, 2026.

This move by Her Majesty’s Revenue and Customs (HMRC) aims to curb tax evasion in the rapidly growing digital asset sector.

This reflects wider efforts to crack down on tax evasion in the digital age, such as HMRC’s targeting of earnings from platforms like Airbnb.

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Article Details

Author / Journalist: Harshini Chakka

Category: Crypto

Markets: United Arab EmiratesIndiaUnited Kingdom

Topics: KYC Market Updates UK CRYPTO Market News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-24 @ 13:37:27 (16 hours ago)

News Timezone: GMT +0:00

News Source URL: thenewscrypto.com

Language: English

Article Length: 370 words

Reading Time: 3 minutes read

Sentences: 26 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TheNewsCrypto

News ID: 28939383

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About TheNewsCrypto

Main Topics: Crypto

Official Website: thenewscrypto.com

Update Frequency: 30 posts per day

Year Established: 2020

Headquarters: United Arab Emirates

News Last Updated: 13 hours ago

Coverage Areas: United Arab Emirates

Publication Timezone: GMT +0:00

Content Availability: Worldwide

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #125

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