Since its inception the use of cryptocurrencies has been seen by users as a way of avoiding taxes on gains made through trading.
Now the major cryptocurrency exchanges will be required to report transactions (and transactors) to the HMRC as part of the first wave of 48 countries implementing the OECD's Cryptoasset Reporting Framework (CARF).
This will mean UK 'investors' in crypto will need to declare gains, or move trading into much shadier dealing environments.