Can HMRC see Coinbase?

I'm a bit confused about the relationship between HMRC and Coinbase. I've heard that HMRC can see my Coinbase transactions, is that true? If so, how does it work? And what information do they actually have access to? I'm asking because I'm considering investing in cryptocurrencies, but I'm worried about tax implications and privacy concerns. Could you please clarify this for me? Thank you.