UK’s HMRC Demands User Data From Crypto exchanges

The Her Majesty’s Revenue & Customs (HMRC) has sent a new request to cryptocurrency exchanges to reveal all the information regarding the exchanges’ customers, including their names, as well as transactions. The main aim of this exercise is to crack down and punish all attempts of tax evasion within the country. HMRC believes that they have the power to request this information if they believe that there is cause for suspicion of illegal activities regarding taxes.

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