UK tax authorities nearly triple crypto tax warnings

UK tax authorities sent 81,172 letters, emails and text messages to cryptocurrency investors suspected of owing unpaid capital gains tax in the 2025-26 financial year. The messages covered profits from selling cryptocurrency. The messages also covered swaps between cryptocurrencies. Investors who fail to declare those gains risk fines or prosecution. Authorities sent 27,714 warnings in 2023 through 2024. The surge followed increases in crypto values from December 2022 to October 2025. Bitcoin rose from around $16,500 to a peak of roughly $126,000 during that period.