UK Cryptocurrency Users to Provide Personal Information Starting in 2026, Violators May Face £300 Fine

On July 9, the UK's HM Revenue & Customs (HMRC) announced that from January 1, 2026, cryptocurrency users must submit personal details to service providers, including their full name, date of birth, address, country of residence, and tax identification number. Users who fail to provide the relevant information may face a fine of up to £300 (approximately $408). This move aims to link users' crypto asset activities with tax records in order to accurately calculate taxes payable. The regulation applies to all businesses classified as crypto service providers, including exchanges, wallet applications, NFT marketplaces, and crypto asset management services. [Deep Tide TechFlow]