UK tax authority HMRC seeks broader powers over crypto client data
- —HMRC proposes requesting client data directly from crypto service providers
- —Recap: the "service provider" definition may cover non-custodial wallets and block explorers
- —Linking a name to a wallet address exposes an investor's full transaction history
- —Risks include data leaks, extortion and physical attacks on holders
Why it matters: Expanding HMRC's powers would tighten UK tax oversight of crypto and could set a precedent for other jurisdictions.
Source: PANews