People buying cryptocurrency in the UK now need to share their account details or face penalties, in changes that came into effect on 1 January.
The move by the UK’s tax body is designed to ensure they pay all relevant tax on buying and selling crypto, including capital gains tax.
HMRC will begin automatically collecting information on all users of cryptocurrency exchanges - which are effectively the industry’s banks - in a bid to start collecting tens of millions in unpaid tax.
The change comes as the financial watchdog continues its consultation on tougher regulation for the industry, including measures to stop insider trading.
One is a human right, the other is defrauding the people and should be a capital offense.
A capital offense?
That’s insane. Maybe if you’re a politician or someone supposed to be being in charge of shit but they actually get encouragement for it and face zero consequences.
A dude in us government took a 50 thousand dollar bribe and you think Joe Blow not telling the IRS about 10K should be put to death?