Core Insights - The UK tax authority is intensifying scrutiny on cryptocurrency investors, doubling the number of warning letters sent to those suspected of underreporting or evading digital asset capital gains tax [1] Group 1: Regulatory Actions - The HMRC issued nearly 65,000 "nudge letters" in the 2024-25 fiscal year, compared to only 27,700 in the previous year, indicating a significant increase in enforcement efforts [1] - Over the past four years, HMRC has sent out more than 100,000 such letters, reflecting a growing emphasis on tax compliance related to cryptocurrencies [1] Group 2: Market Context - The acceleration of these actions is attributed to the rising popularity of cryptocurrencies and the increase in asset prices, prompting the HMRC to take a more proactive approach [1]