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Coinbase UK Hands Over Customer Data to HMRC to Comply with Tax Regulation

Amy Liu

Summary: Coinbase UK customers have been informed that the British tax authority, Her Majesty’s Revenue & Customs (HMRC), is tracking their income records.  According to the previous data transmission terms negotiated between Coinbase UK and HMRC, during the 2019/20 tax year, customers with a U.K. address who received more than £5,000 ($6,450) worth of cryptocurrency need ...

Coinbase UK customers have been informed that the British tax authority, Her Majesty’s Revenue & Customs (HMRC), is tracking their income records. 

According to the previous data transmission terms negotiated between Coinbase UK and HMRC, during the 2019/20 tax year, customers with a U.K. address who received more than £5,000 ($6,450) worth of cryptocurrency need to disclose their names and address to HMRC.

According to the email notification received by Coinbase UK customers this Friday, the relevant customer information has been sent to HMRC.

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