[240 Crypto Asset Taxpayers in the UK Report £717 Million in Capital Gains, Accounting for Over Half of the Total] Odaily Planet Daily News – The UK’s HM Revenue and Customs (HMRC) announced that for the 2024–2025 tax year, 240 individuals each reported over £1 million in crypto asset capital gains, totaling £717 million, which accounts for over half of the total. The combined capital gains of all 17,600 filers amounted to £1.38 billion, with disposal proceeds reaching £13.8 billion. Taxpayers reporting capital gains below £25,000 make up 65% of the total, contributing only 7% of the capital gains and 8% of the disposal proceeds. Among crypto asset taxpayers, 54% are aged between 25 and 44, and 81% are under 54 years old; males account for 87% of taxpayers, contributing 93% of the capital gains. The UK is advancing regulation based on the OECD Crypto-Asset Reporting Framework, requiring trading service providers to submit customer information to tax authorities. HMRC will begin receiving related data in 2027, and service providers failing to comply will face fines of up to £300 per user. James Murray, Financial Secretary to the Treasury, stated that capital gains from crypto assets are subject to taxation just like other capital gains. The UK Treasury plans to defer capital gains tax on DeFi lending and assets deposited into liquidity pools until the assets are actually disposed of. For the 2025–2026 tax year, capital gains exceeding the tax-free allowance must be reported by January 31, 2027. (Decrypt)