UK tax authorities requested customer details from multiple crypto exchanges
The UK Tax and Customs Administration (HMRC) has asked cryptocurrency exchanges to disclose customer data and their transaction history in an attempt to identify possible evaders, CoinDesk writes, citing sources familiar with the situation..
At least three cryptocurrency exchanges providing services in the UK market have received relevant letters over the past week: Coinbase, eToro and CEX.IO.
“HMRC wants to work with exchanges to get information about who bought and sold cryptocurrencies. I think that they will only check the data for a couple of years, two or three years, the source said. – If they limit themselves only to this period, then users who entered the market very early, in 2012-2013, will not fall into their field of vision. These are the ones who possibly earned the most. The information will mainly concern those who joined the market at the peak “.
HMRC declined to comment directly on the sources’ statements, but confirmed that such requests are within their competence: “These exchanges can store information about customers and their transactions. Such transactions may give rise to tax liabilities, and therefore HMRC has the authority to send data requests to exchanges. “.
Last month, it was reported that the IRS was sending letters to users of crypto exchanges demanding to pay off debt to the state, if any..
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