British tax agency demands customer information from exchanges

posted 2 months ago
HM Revenue & Customs, the British tax authority, is pressuring cryptocurrency exchanges to reveal customers’ names and transaction histories, in a bid to claw back unpaid taxes. Letters requesting lists of customers and transaction data have landed on the doorsteps of at least three exchanges doing business in the UK – Coinbase, eToro and CEX.IO – in the last week or so.

The agency confirmed such demands are within its remit, saying “These exchanges can retain information on their clients and the transactions that they have completed. These transactions may result in potential tax charges and HMRC has the power to issue notices requiring exchanges to provide this information.”
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