UK Crypto Users Face Penalties for Unpaid Taxes on Digital Assets

UK Crypto Users Face Penalties for Unpaid Taxes on Digital Assets

The UK government has issued guidance on how to voluntarily disclose unpaid capital gains or income taxes from crypto assets to avoid penalties. This includes exchange tokens such as Bitcoin, non-fungible tokens (NFTs), and utility tokens. Those who have already made disclosures to the UK Treasury have 30 days from the disclosure date to make…