UK reports $975M crypto gains

• HM Revenue and Customs said 240 people reported more than £1 million in crypto gains.
• About 17,600 people reported $1.9 billion in total crypto gains.
• The UK is expanding crypto tax reporting under OECD rules.

HM Revenue and Customs said 240 people reported more than £1 million in crypto gains in 2024–25.

Those 240 people reported about $975 million combined, while 17,600 people reported $1.9 billion in digital asset gains.

“Taxes are due on cryptoasset gains just like any other gains,” said UK Treasury Financial Secretary James Murray.

HMRC also recorded $18.7 billion in crypto asset disposals from selling or trading during the tax year.

The figures came as the UK prepares to collect more crypto data under the OECD’s Crypto-Asset Reporting Framework.

The UK will require crypto service providers to report customer gains and losses that may otherwise go undeclared.

HMRC has also sent more than 81,000 letters to people suspected of underpaying crypto taxes, according to reports.