UK Reveals 240 Crypto Millionaires With £717M in Taxable Gains
The UK's tax authority has revealed that over 240 taxpayers declared crypto capital gains of more than £1 million in the latest tax year, with a total of £717 million reported.
A total of 17,600 people reported £1.38 billion of crypto asset income after £13.8 billion in crypto capital disposals.
The new international reporting rules set to be implemented from 2027 will allow HMRC to see information on crypto customers and provide better tools to discover gains and income that might have been missed.