UK Enacts New Crypto Reporting Guidelines for Enhanced Transparency

The UK government has introduced new guidelines requiring crypto firms to collect and report comprehensive data on customer transactions, aiming to enhance transparency and improve tax compliance. These regulations issued by HM Revenue & Customs (HMRC) will mandate the collection of user information and transaction details starting January 1, 2026. To ensure a smooth transition, companies are encouraged to begin gathering this data before the new guidelines take effect.