Share this article
Coinbase Reportedly Warns Some UK Users It's Handing Their Details to the Taxman
U.K. users of the exchange who have received £5,000 or more in the past tax year will have their information passed to the tax authority.
By Paddy Baker
Updated May 9, 2023, 3:12 a.m. Published Oct 2, 2020, 2:15 p.m.
Coinbase has told some of its users it is passing their details onto the U.K. tax authority, HMRC.
STORY CONTINUES BELOW
Não perca outra história.Inscreva-se na Newsletter Crypto Daybook Americas hoje. Ver Todas as Newsletters
- As first reported by Decrypt, the popular crypto exchange emailed some users saying that as part of a deal with HMRC, it must provide records on customers who had received more than £5,000 ($6,500) during the 2019-2020 tax year.
- The email appears to have been only sent to users the exchange believed crossed that threshold; it encourages them to reach out to their accountants or tax advisers.
- The notice comes over a year after HMRC first requested crypto exchanges send over information on U.K. residents who had moved money on their platforms.
- Per the email, Coinbase said HMRC had originally requested records on its customers between 2017 and 2019, but a compromise limited the data to customers using digital assets to receive greater amounts.
- In the U.K., cryptocurrencies count as an investment asset and are subject to capital gains tax, which for high-income earners can come to approximately 20% on gains.
Publicidade
See also: UK Government Moving to Restrict Cryptocurrency Promotions
More For You
Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
需要了解的:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
More For You
Top Stories
