Regulation 18 Penalties for failure to register with HMRCI1
United Kingdom
If a reporting cryptoasset service provider fails to comply with regulation 10 (registration with HMRC: UK reporting cryptoasset service providers), the reporting cryptoasset service provider is liable—
(a)
to a penalty not exceeding £1,000, and
(b)
if the failure continues after notice of assessment of a penalty under paragraph (a) is issued, to a penalty or penalties not exceeding £300 for each subsequent day on which the failure occurs.