The post UK HMRC to Collect Crypto Transaction Data from Exchanges Starting Thursday appeared on BitcoinEthereumNews.com.

Starting Thursday, HMRC begins collecting full transaction data from crypto exchanges serving UK users under the OECD’s Cryptoasset Reporting Framework (CARF). Exchanges must report purchase prices, sales, profits, and tax residency details, enabling governments to track undeclared gains across 48 countries initially. UK leads 48 countries in CARF implementation, targeting crypto tax evasion globally. Over 75 nations committed, with sharing expanding by 2027-2029. HMRC sent 65,000 crypto warning letters in 2024-25, up from 27,700 prior year. HMRC crypto reporting starts Thursday: Full transaction data from exchanges for UK users under CARF. Learn tax rules, compliance steps & penalties. Act now to avoid enforcement—disclose gains before deadlines! What is HMRC Crypto Reporting? HMRC crypto reporting refers to the mandatory disclosure of complete transaction records by crypto exchanges to HM Revenue & Customs, effective from Thursday under the OECD’s Cryptoasset Reporting Framework (CARF). This requires details on user purchases, sales, profits, and tax residency for UK-based traders. The initiative closes loopholes for hiding crypto gains, with data sharing set to expand internationally from 2027. How Do Crypto Exchanges Comply with HMRC Crypto Reporting? Crypto exchanges dealing with UK users must submit full records, including cost basis, sale proceeds, realized profits or losses, and each user’s tax residency status, according to reporting from the Financial Times. From 2027, HMRC will exchange this data automatically with other CARF participants like all EU states, Brazil, South Africa, the Cayman Islands, and Channel Islands. Every disposal—such as selling for fiat, swapping tokens, spending crypto, or gifting (except to spouses)—triggers reporting. Seb Maley of tax insurance firm Qdos called it “a major shift in how crypto trading is monitored from a tax perspective,” noting HMRC will precisely identify gains and beneficiaries. Frequently Asked Questions Which Crypto Transactions Must Be Reported Under HMRC Crypto Reporting? Under HMRC crypto…

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Filed under: News - @ January 1, 2026 9:20 am