240 Cryptocurrency Millionaires Identified in UK Tax Records for 2025
British tax authorities reveal that 17,600 individuals declared a total of $1.9 billion in cryptocurrency profits during the 2024-2025 tax year, including 240 people who each reported gains exceeding $1.4 million.
Britain's taxation reporting authority has revealed that 240 individuals declared capital gains exceeding 1 million British pounds ($1.4 million) from cryptocurrency assets during the most recent tax year.
Data published by HM Revenue and Customs on Thursday shows that these 240 individuals collectively reported approximately $975 million in capital gains from cryptocurrency holdings for the 2024 to 2025 tax year, with each person declaring gains surpassing $1.4 million. The figures encompass a total of 17,600 people who disclosed digital asset profits throughout the identical timeframe, totaling $1.9 billion, alongside $18.7 billion in asset "disposal" resulting from the sale or exchange of cryptocurrency holdings.
Taxes are due on cryptoasset gains just like any other gains, and we want to make sure people making gains from crypto know about what taxes they owe.
James Murray, Financial Secretary to the UK Treasury and Paymaster General
Based on the Organization for Economic Co-operation and Development's (OECD's) Crypto-Asset Reporting Framework, on-chain cryptocurrency transactions anticipated to be subject to taxation reached $457 billion worldwide in 2025. British authorities will mandate that crypto asset service providers submit information regarding cryptocurrency profits and losses according to the framework, capturing transactions that might have otherwise gone unreported by individual taxpayers.
These statistics emerged following reports that the UK taxation agency dispatched over 81,000 correspondence items to people believed to have underpaid their tax obligations as part of enforcement initiatives specifically aimed at cryptocurrency investors.