HMRC Increases Crypto Tax Enforcement Efforts with Nudge Letters to Potential Evaders

The UK tax authority, HM Revenue & Customs (HMRC), has taken a proactive step towards bolstering crypto tax compliance by issuing approximately 65,000 nudge letters to suspected evaders for the 2024/25 tax year. This significant increase in outreach reflects the growing focus on ensuring tax transparency within the digital asset market.