Coinbase Reportedly Warns Some UK Users It’s Handing Their Details to the Taxman

[Galaxy]

Coinbase has told some of its users it is passing their details onto the U.K. tax authority, HMRC.

As first reported by Decrypt, the popular crypto exchange emailed some users saying that as part of a deal with HMRC, it must provide records on customers who had received more than £5,000 ($6,500) during the 2019-2020 tax year.
The email appears to have been only sent to users the exchange believed crossed that threshold; it encourages them to reach out to their accountants or tax advisers.
Info Link: https://www.coindesk.com/coinbase-uk-users-taxman-report