The UK tax authority has sent 65,000 demand letters to individuals suspected of cryptocurrency tax evasion

ChainCatcher news, according to The Block, the UK tax authority has sent out approximately 65,000 "demand letters" to individuals suspected of owing cryptocurrency taxes, doubling the number from last year.

Under the current UK tax system, selling, exchanging, or spending cryptocurrency typically incurs capital gains tax, while staking rewards and airdrop earnings are considered taxable income.