Do I pay tax on Crypto? New HMRC rules to clampdown on tax evading ‘crypto bros’

New rules are set to help the taxman unmask those attempting to avoid tax on their cryptocurrency profits.

People looking at their cryptocurrencies online
(Image credit: d3sign via Getty Images)

Government coffers are set for a £315 million boost as the taxman cracks down on investors who are evading tax on their cryptocurrencies through the new ‘Cryptoasset Reporting Framework’.

Under the new rules, anybody who owns cryptocurrencies (like Bitcoin, Ethereum, and meme coins like Dogecoin) will have to give more of their personal details to crypto service providers or risk a £300 fine from HMRC from January 2026 onwards.

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Daniel is a digital journalist at Moneyweek and enjoys writing about personal finance, economics, and politics. He previously worked at The Economist in their Audience team.

Daniel studied History at Emmanuel College, Cambridge and specialised in the history of political thought. In his free time, he likes reading, listening to music, and cooking overambitious meals.