UK Crypto Millionaires Near 250 as Adoption Grows

The United Kingdom’s tax authority said 240 people reported more than 1 million British pounds ($1.4 million) each in capital gains from digital assets during the previous tax year. According to data released Thursday by HM Revenue and Customs (HMRC), those individuals reported a combined total of roughly $975 million in crypto-related capital gains during the 2024–2025 tax year.

The figures also showed that 17,600 people reported digital asset gains during the same period, totaling approximately $1.9 billion. Crypto disposals, including sales and trades, amounted to around $18.7 billion. “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,” said James Murray, Financial Secretary to the UK Treasury and Paymaster General.

UK prepares for expanded crypto tax reporting

The figures come as the UK prepares to implement the Organization for Economic Co-operation and Development’s Crypto-Asset Reporting Framework. Under the framework, crypto asset service providers will be required to report information on customers’ digital asset gains and losses, including activity that may previously have gone undeclared by taxpayers. Globally, taxable onchain crypto activity was estimated at $457 billion in 2025 under the OECD framework.

HMRC steps up enforcement

The latest data also follows reports that HMRC sent more than 81,000 letters to people suspected of underpaying taxes as part of a wider effort targeting crypto investors. The expanded reporting requirements are expected to give the tax authority greater visibility into cryptocurrency transactions and make it easier to identify discrepancies between declared gains and trading activity.

Crypto gains face the same tax rules as other assets

UK authorities have continued emphasizing that profits from cryptocurrencies are subject to capital gains tax in the same way as gains from other taxable assets. The new figures highlight the scale of crypto-related wealth being reported in the country, with hundreds of individuals declaring gains exceeding £1 million in a single tax year.

Sources:

https://www.gov.uk/government/news/240-crypto-millionaires-revealed-in-new-government-data

https://cointelegraph.com/news/uk-government-crypto-millionaires-2025