What Is $WATER

On August 22, Bitcoin mining company Bitdeer announced its weekly data, stating that as of August 21, the company mined a total of 265.6 BTC last week and sold an equivalent amount of 265.6 BTC, resulting in a net holding of 0 BTC. Currently, its own Bitcoin holdings stand at 0 BTC (excluding customer deposits), a figure that has remained unchanged since it dropped to zero on February 20.

On August 22, Bitcoin mining company Bitdeer announced its weekly data, stating that as of August 21, the company mined a total of 265.6 BTC last week and sold an equivalent amount of 265.6 BTC, resulting in a net holding of 0 BTC. Currently, its own Bitcoin holdings stand at 0 BTC (excluding customer deposits), a level it has maintained since dropping to zero on February 20.

On August 22, HM Revenue and Customs (HMRC) issued **81,000 tax warning letters** to cryptocurrency investors in the past 12 months, a 25% increase from 65,000 letters the previous year, and a significant rise from 27,714 letters in the 2023-24 fiscal year. This data was obtained by accounting firm UHY Hacker Young through a freedom of information request. These warning letters are intended to remind investors to voluntarily report unpaid taxes to avoid formal investigations by tax authorities. Reports indicate that activities such as cryptocurrency exchanges, payment consumption, token gifting, and lending staking profits may trigger tax obligations in the UK. Many investors have misconceptions about the rules, mistakenly believing that using overseas exchanges exempts them from UK tax obligations. According to regulations, starting in 2026, UK crypto service providers will be required to implement a crypto asset reporting framework that collects user identities and transaction records, with the first complete transaction report due between January and May 2027. Beginning in 2027, a cross-border information exchange mechanism will be established, allowing 52 jurisdictions to provide HMRC with data on UK residents' offshore crypto transactions, significantly enhancing the tax authority's oversight of offshore trading. The UK also plans to adjust tax rules related to DeFi in April 2027, adopting a 'no gain, no loss' taxation method for eligible crypto lending and automated market-making activities, which is expected to cover approximately 700,000 users.