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UK Issues Crypto Tax Warning: Declare Taxes or Face Penalties

UK Issues Crypto Tax Warning: Declare Taxes or Face Penalties

Policy The United Kingdom’s tax authority, His Majesty’s Revenue and Customs (HMRC), has issued a stern warning to individuals holding cryptocurrencies, non-fungible tokens (NFTs), and utility tokens, emphasizing the imperative of timely tax declaration and payment. In guidance released on November 29, HMRC underscores the potential consequences for those failing to adhere to the specified