With more and more people investing in cryptoassets the taxation of such investment activity is a matter which on many governments are playing catch-up. Governments across the world seem to suspect that investment gains may not be being reported correctly by their taxpayers.

In the UK, HMRC have recently started to write to crypto exchanges and brokers asking for details about their customers. It would be logical to assume that once they start receiving such data they will send “nudge” letters to those whom they believe may have unreported crypto gains. 

The HMRC approach appears to closely follow the IRS’ re...