UK Sees 240 Crypto Millionaires Amid Wider Tax Crackdown

The UK government has released data showing that 240 individuals reported capital gains of over $1.4 million from cryptocurrency in the 2024-2025 tax year.

This is part of a larger group of 17,600 people who reported digital asset gains totaling $1.9 billion during the same period.

The data also showed that 'disposal' of assets, which includes selling or trading, resulted in losses of $18.7 billion.

HM Revenue and Customs (HMRC) is cracking down on underpayment of taxes from cryptocurrency investors, having sent over 81,000 letters to suspected underpayers.