240 taxpayers in the UK declare £ 717 million in cryptocurrency capital gains, accounting for over half of the total amount

According to data from HM Revenue and Customs, 240 individuals each declared over £ 1 million in cryptocurrency capital gains, totaling £ 717 million, accounting for over half of the total. All 17600 applicants had capital gains of £ 1.38 billion and disposal proceeds of £ 13.8 billion. Taxpayers who declare capital gains below £ 25000 account for 65%, contributing 7% of capital gains and 8% of disposal income. 54% of cryptocurrency taxpayers are aged 25 to 44, with males accounting for 87%. The UK is advancing the OECD Cryptocurrency Reporting Framework, requiring trading service providers to provide customer information, and those who fail to fulfill their obligations face a maximum fine of £ 300 per user. James Murray, the Financial Secretary of the UK Treasury, stated that capital gains from cryptocurrency assets are subject to taxation like other capital gains. The UK Treasury plans to defer capital gains tax on DeFi lending and depositing assets into liquidity pools until the actual disposal of the assets. For tax years 2025 to 2026, capital gains exceeding the tax-free limit must be declared before January 31, 2027. （Decrypt）