UK cryptocurrency users who fail to provide information may face fines

According to CoinDesk, UK cryptocurrency users will be required to submit information including full name, date of birth, address, country of residence, and tax identification number to service providers starting from January 1, 2026, otherwise they may face a fine of up to £ 300 (approximately $408). The UK HM Revenue and Customs (HMRC) stated that this move aims to link users' cryptocurrency activities with their tax records in order to calculate the amount of tax payable. This regulation applies to all enterprises classified as cryptocurrency service providers, including exchanges, wallet applications, NFT markets, and cryptocurrency asset management services.