The UK has introduced new regulations for cryptocurrency firms, requiring them to report all user transactions by 2026. The move aims to increase transparency in the crypto sector and align with global efforts against tax evasion. HMRC (Her Majesty’s Revenue and Customs) is implementing the Cryptoasset Reporting Framework, imposing fines of up to £300 per user for non-compliance. This regulation impacts companies like exchanges and platforms operating in the UK, as well as those serving UK clients globally. The move comes after the UK aligned with OECD standards to fight tax evasion, impacting financial sectors that will need to adapt their operations to meet new compliance demands.