The UK tightens the screws on cryptocurrencies
Starting January 1, 2026, the British government will implement an unprecedented surveillance system. Crypto platforms will be required to collect a multitude of information about their users and their transactions. A measure that risks radically changing the crypto landscape in the UK.
What types of data will be affected?
đ§ââïž Individual Users : full name, date of birth, address, country of residence, tax identification number
đą Companies : company name, headquarters address, registration number
đž Transactions : amount, value transferred, asset used, type of transaction
Any omission may cost ÂŁ300 (approximately âŹ356) per undeclared user.
Why such a measure?
The UK justifies this decision by a desire to combat tax fraud and money laundering. However, this systematic collection revives fears of a surveillance society, where financial privacy could become a distant memory.
A global trend?
While some countries like Germany have chosen a less intrusive path, particularly by sparing self-hosted wallets, the UK adopts a much stricter approach. Privacy advocates are crying out against security drift, while regulators welcome a move towards transparency.
Conclusion
Between increased control and individual freedoms, British crypto enters a new era. For users, it becomes crucial to stay informed and rethink their way of managing their digital assets.
Source: Cryptoast.fr
