UK to fine cryptocurrency users who fail to pay taxes on time

Odaily News The UK government on Wednesday called on cryptocurrency users to voluntarily disclose any unpaid capital gains or income tax to avoid penalties, and issued guidance on how to pay these taxes. Tax disclosures should reflect any capital gains or income from exchange tokens such as Bitcoin, NFTs, and utility tokens. Users who have made cryptocurrency tax disclosures to the UK Treasury have 30 days from the date of disclosure to make all necessary payments. If the deadline is not met, the Treasury will take steps to recover the funds and users may face penalties. (CoinDesk)