UK reports 240 crypto millionaires in 2025

The United Kingdom’s tax authority disclosed that 240 individuals claimed more than £1 million ($1.4 million) in capital gains from digital assets during the 2024‑2025 tax year.

Overall crypto‑related gains

Across the same period, 17,600 taxpayers reported crypto‑related gains totaling roughly $1.9 billion. The total value of disposals – the amount realised from selling or trading crypto assets – was reported at $18.7 billion.

Tax compliance measures

James Murray, Financial Secretary to the UK Treasury, emphasized that crypto gains are subject to the same tax rules as other capital gains and urged taxpayers to fulfil their obligations.

The tax authority also sent more than 81,000 letters to individuals it believes may have under‑paid taxes on crypto investments.

International reporting framework

Under the OECD’s Crypto‑Asset Reporting Framework, global on‑chain crypto activity expected to be taxable is estimated at $457 billion for 2025. The UK will require crypto‑asset service providers to report gains and losses that might otherwise go undeclared.