PANews reported on July 9 that according to CoinDesk , British cryptocurrency users will need 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 pounds (about 408 US dollars). The UK Revenue and Customs ( HMRC ) said that this move is aimed at linking users' crypto asset activities with their tax records in order to calculate the amount of tax payable. The regulation applies to all companies classified as crypto service providers, including exchanges, wallet applications, NFT markets and crypto asset management services.