<ul data-eligibleForWebStory="false"><li>UK will fine crypto traders who fail to report taxes starting January 2026, under new rules.</li><li>Cryptoasset Reporting Framework aims to enhance tax transparency and assist HMRC in tracking unreported profits from cryptocurrencies like Bitcoin and Ethereum.</li><li>Service providers must collect personal details from users to comply with the rules, with fines of up to £300 for non-compliance, expected to generate £315 million by April 2030.</li><li>The initiative is part of the government's efforts to close tax loopholes and ensure fair tax payment, despite facing criticism from some crypto users for being one-sided.</li></ul>

UK to Fine Crypto Traders Who Don’t Report Taxes Under New Rules

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