According to the source, the UK Budget confirms that new crypto reporting rules will take effect from January 1, signaling tighter disclosure requirements for crypto activity in the UK. Source: HM Treasury Budget publication. UK traders should ensure complete, timestamped records of all crypto transactions and prepare accurate capital gains and income calculations in line with HMRC guidance on cryptoassets and Self Assessment. Source: HMRC Cryptoassets Manual; HMRC Self Assessment guidance. HMRC requires the share pooling method for calculating capital gains on crypto, and incomplete records increase audit and penalty risk; traders should reconcile exchange exports and wallets before year-end. Source: HMRC Capital Gains manual for cryptoassets. The lower UK capital gains tax annual exempt amount of £3,000 for 2024–25 heightens the importance of precise gain/loss reporting for active crypto traders. Source: HM Treasury and HMRC CGT allowance guidance.

According to @AltcoinGordon, the recent trend of meme coin trading has increased the need for transparent reporting and tax planning among crypto traders. The tweet humorously highlights the challenges traders face when presenting complex meme coin transactions to accountants, underlining the importance of accurate record-keeping for regulatory compliance in 2025. This trend signals growing attention from financial authorities toward meme coins like DOGE and PEPE, which could affect market liquidity and volatility as traders seek to optimize tax strategies. Source: @AltcoinGordon on Twitter, June 14, 2025.

According to Axios, the US Internal Revenue Service has announced new crypto tax reporting regulations set to take effect in 2025, requiring exchanges and brokers to report detailed transaction data. This move is expected to increase regulatory transparency and could affect trading volumes and price volatility for cryptocurrencies like Bitcoin and Ethereum. Traders should prepare for increased compliance costs and potential shifts in market liquidity as these rules are enforced (source: Axios, 2025-05-12).