UK Firms to Report Every Customer’s Crypto Transaction
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Starting January 1, 2026, the UK government will require crypto companies to gather and report user and transaction data, including full names, home addresses, and tax identification numbers.
This aligns with the OECD’s Crypto-Asset Reporting Framework (CARF), as announced by HM Revenue & Customs.
The announcement suggests companies may want to begin collecting this information early to prepare for the new rules. Inaccurate or incomplete reports could incur penalties of up to £300 per user.
Additionally, companies must verify the accuracy of collected information through due diligence, with further guidance to be provided.
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