UK encryption users will be required to provide personal information to service providers starting next year

According to a report by Golden Finance, HM Revenue and Customs (HMRC) announced that UK cryptocurrency users will be required to submit information including full name, date of birth, address, country of residence, and tax identification number to service providers from January 1, 2026, otherwise they may face a fine of up to £ 300 (approximately $408). This regulation applies to all enterprises classified as cryptocurrency service providers, including exchanges, wallet applications, NFT markets, and cryptocurrency asset management services.