New Regulations Raise Concerns About Safety

New cryptocurrency tax regulations in the United Kingdom are raising growing concerns. Since January, crypto exchanges have been required to submit detailed user data to the tax authority (HMRC), with plans to share this information with over 70 countries in the future. Experts warn that such measures may pose significant risks to the safety of everyday investors.

The new rules are based on the global CARF standard developed by the OECD. In practice, this means crypto platforms must collect and report personal data including full name, address, date of birth, tax residency, and complete transaction history. Starting in 2027, this information will be automatically exchanged with foreign tax authorities.

The goal of CARF is to reduce tax evasion. However, some specialists argue that such extensive databases could become attractive targets for criminals. In the event of a data breach, this information could be used to identify individuals who own cryptocurrencies and assess their wealth.

A similar situation has already occurred in France, where a crypto reporting system is also in place. In recent years, there has been a rise in violent crimes targeting digital asset holders, including kidnappings, home invasions, and torture. In one case, a tax administration employee allegedly sold user data to criminal groups.

Particularly dangerous are so-called coercion attacks, where perpetrators use violence to force victims to transfer their cryptocurrencies. Unlike traditional bank accounts, such transactions cannot be reversed or blocked.

This issue is not limited to France. A report by Chainalysis from July 2025 indicates that the number of physical attacks on cryptocurrency holders may be up to twice as high as in previous years. However, many of these incidents are never reported in official statistics.