[UK Tax Authority Sends 65,000 Letters to Crypto Tax Defaulters]
According to the Financial Times, the UK tax authority has sent approximately 65,000 reminder letters to individuals suspected of owing cryptocurrency taxes, more than double the number compared to last year. The UK stipulates that the sale, exchange, or consumption of cryptocurrencies is generally subject to capital gains tax, while staking rewards and airdrops are considered income and subject to taxation.