The post UK Enforces Sweeping Crypto Tax Reporting Rules, Forcing Exchanges into Full HMRC Transparency appeared on BitcoinEthereumNews.com.

Key Takeaways: The UK will enforce OECD-backed crypto tax reporting rules from January 2026, with first reports due in May 2027 Crypto exchanges and service providers must collect and report detailed user and transaction data to HMRC The framework significantly expands global tax transparency while adding domestic reporting and enforcement mechanisms The UK has formally set its path toward one of the most comprehensive crypto tax reporting regimes among major financial hubs. Through the adoption of the OECD’s Cryptoasset Reporting Framework (CARF), British authorities are moving to bring digital assets under the same scrutiny as traditional financial accounts. This shift marks a structural change for crypto exchanges, wallet providers, and service platforms operating in or serving UK users. Read More: UK Sets October 2027 Deadline to Regulate Crypto UK Adopts OECD Crypto Reporting Framework The UK confirmed it will implement the OECD’s Cryptoasset Reporting Framework as part of a coordinated global effort to close tax reporting gaps created by digital assets. CARF requires Reporting Cryptoasset Service Providers (RCASPs) to collect, verify, and report user information and transaction data to national tax authorities. In the UK, this data will flow directly to HM Revenue & Customs (HMRC). The rules apply to both UK-based users and non-UK customers interacting with UK-based platforms. Reporting will cover transactions, asset transfers, and identity details that allow HMRC to detect underreported or unreported crypto gains. Although the UK signed the joint international commitment in late 2023, the practical rollout begins in January 2026. The first full reporting cycle will cover the 2026 calendar year, with submissions due by May 31, 2027. What Crypto Platforms Must Report With the new structure, crypto exchanges and service providers will have to gather volumes of data that are similar to those required in banks. This consists of customer identity data,…

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Filed under: News - @ January 2, 2026 9:22 am