UK Government Reports 240 Crypto Millionaires in 2025

cryptonews.ruPublicado a 2026-08-27Actualizado a 2026-08-27

Resumen

The UK tax authority (HMRC) reported that 240 individuals declared capital gains exceeding £1 million ($1.4 million) from digital assets in the 2024-2025 tax year. Collectively, these 240 crypto millionaires reported gains of approximately $975 million. Overall, 17,600 people reported digital asset income totalling $1.9 billion, with asset disposals (sales or trades) valued at $18.7 billion during the same period. Financial Secretary James Murray emphasised that crypto asset profits are taxed like other income, stressing the importance of taxpayer awareness. Globally, the OECD estimates taxable on-chain crypto activity reached $457 billion in 2025. The UK will soon require crypto service providers to report client transaction data under the OECD's Crypto Asset Reporting Framework to improve compliance. This data follows HMRC's campaign targeting crypto investors, which included sending over 81,000 letters to individuals suspected of underreporting their tax liabilities.

The UK tax authority reported that 240 individuals declared capital gains from digital assets exceeding £1 million ($1.4 million) in the previous tax year.

According to data from HM Revenue and Customs published on Thursday, these 240 individuals reported a combined cryptocurrency-related capital gain of approximately $975 million for the 2024–2025 tax year; each declared an amount over $1.4 million. This data includes information on 17,600 individuals who reported income from digital assets during the same period, totaling $1.9 billion, as well as asset "realizations" amounting to $18.7 billion from sales or trading.

"Tax is due on gains from cryptoassets just as it is on other gains, and we want to ensure people profiting from crypto are aware of the tax they need to pay," said James Murray, Financial Secretary to the UK Treasury and Paymaster General.

Under the OECD's Crypto-Asset Reporting Framework (CARF), the volume of on-chain crypto activity expected to be taxable was $457 billion globally in 2025. The UK will require crypto-asset service providers to report data on crypto trading gains and losses under this framework; otherwise, taxpayers might not declare them.

This data emerged after the UK authority reportedly sent more than 81,000 letters to individuals suspected of underreporting their tax liabilities as part of efforts targeting cryptocurrency investors.

Related read: Bank of England Poised to Get New Innovation Mandate Covering Stablecoins

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Preguntas relacionadas

QAccording to the UK tax authority's report, how many individuals declared crypto capital gains over £1 million in the 2024-2025 tax year?

A240 individuals declared crypto capital gains over £1 million (£1.4 million) in the 2024-2025 tax year.

QWhat was the total amount of crypto capital gains reported by those 240 high-earning individuals according to the HMRC data?

AThe 240 high-earning individuals reported a total of approximately $975 million in crypto capital gains.

QWhat is the name of the OECD reporting framework mentioned in the article, and what is its purpose regarding crypto assets?

AThe article mentions the OECD's Crypto-Asset Reporting Framework (CARF). Its purpose is to require crypto-asset service providers to report information on crypto transaction profits and losses to ensure taxable activity is declared.

QWhat action did the UK tax authority reportedly take as part of its efforts targeting crypto investors prior to this data release?

AThe UK tax authority reportedly sent over 81,000 letters to individuals suspected of under-reporting their tax liabilities as part of its efforts targeting crypto investors.

QWhat statement did Financial Secretary to the Treasury James Murray make regarding the taxation of crypto-asset profits?

AJames Murray stated: 'Tax is due on gains from cryptoassets in the same way it is on gains from other assets, and we want to make sure people are aware of the tax due on profits from crypto.'

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