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UK Targets Crypto Tax Evasion | Bitcoin and Crypto News
Description
The UK tax authorities are cracking down on crypto wealth, with 240 individuals reporting over £1 million in digital asset gains last year — as global crypto tax reporting ramps up under the OECD framework, aiming to track $457 billion in taxable activity by 2025. With 81,000 tax notices already sent and new rules forcing crypto firms to disclose profits and losses, the government’s pushing for greater transparency to ensure digital assets don’t slip through the cracks of the tax system.
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