The UK is implementing automatic crypto reporting across 52 jurisdictions, combined with proposals to expand HMRC’s information-gathering powers over crypto businesses. An additional 15 jurisdictions, including Singapore, Switzerland and Gibraltar, are expected to join from 2028, strengthening the British tax authority’s ability to identify overseas crypto holdings linked to UK residents. These measures represent a material change in enforcement reach rather than new tax rates. However, the domestic proposals are not yet settled law and remain under consultation. The ultimate impact will depend on ministerial decisions regarding the rules and safeguards for information access.
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