UK Tightens Crypto Regulations: Reporting Requirements & Global Trend

The United Kingdom is taking a significant step towards increased crypto regulation with new domestic reporting requirements set to take effect in 2026. This move significantly expands the scope of the existing Cryptoasset Reporting Framework (CARF), granting HM Revenue & Customs (HMRC) access to detailed transaction data from both UK-based and international sources for resident users. The updated framework aims to enhance tax compliance while tackling illicit activity in digital assets, aligning with international standards ahead of a planned international data exchange in 2027.