According to Forbes, the UK’s HM Revenue & Customs (HMRC) is pushing to expand its authority to access crypto asset information. The proposal would allow tax authorities to directly request customer data from crypto asset service providers and update rules for inspecting software and electronic records. UK crypto tax software company Recap has warned that the proposed regulations define service providers too broadly, potentially including non-custodial wallet software, blockchain explorers, hardware wallet manufacturers, and tax software providers. Since Bitcoin transaction records are publicly transparent, if an investor’s name, address, and tax identity are linked to an on-chain wallet address, it could expose their long-term asset activity, increasing risks of data breaches, extortion, or even personal attacks. https://www.(wublock123.com)/news/forbes-uk-hmrc-expand-crypto-data-access-privacy-concerns-69712