UK to Enforce Crypto Transaction Reporting by 2026
UK will require crypto firms to report all user transactions by 2026, with fines of £300 per unreported user.
- Crypto firms must report user transactions from Jan 2026
- Non-compliance may result in £300 fines per user
- Part of UK’s push for tighter crypto regulations
Crypto Firms in the UK Face New Reporting Mandate
Starting January 2026, the United Kingdom will require all crypto firms operating in the country to report user transactions directly to tax authorities. This regulatory shift is part of the UK government’s effort to enhance financial transparency and curb tax evasion within the fast-evolving digital asset space.
The move aligns with global efforts to bring cryptocurrency under tighter regulatory oversight, especially as adoption grows among retail and institutional investors alike.
Fines of £300 Per Unreported User
The UK’s new framework won’t just be about reporting — it carries real consequences for non-compliance. Crypto platforms that fail to report user activity could face penalties of £300 per user, in addition to possible further enforcement action for repeated violations.
This requirement covers both domestic and foreign exchanges that serve UK residents. Firms must provide data on trades, transfers, and holdings, helping HMRC better track taxable gains and enforce compliance.
A Step Toward Global Tax Transparency
This policy is in line with the OECD’s Crypto-Asset Reporting Framework (CARF), which encourages cross-border data sharing to prevent tax avoidance via digital assets. The UK government’s proactive stance shows its commitment to aligning with international standards while protecting consumers and ensuring tax fairness.
For users, this means increased visibility to tax authorities — and a growing need for accurate record-keeping and tax reporting on crypto activity.
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