UK Mandates Crypto Exchange Tax Reporting by 2026

The UK government has mandated that crypto exchanges begin reporting detailed transaction data to HMRC starting in 2026, aligning with the OECD’s CARF framework. This move aims to bolster tax compliance and harmonize standards with global regulations, impacting trading behavior and regulatory costs for UK-based exchanges. While HMRC’s new regulation brings about significant changes, privacy concerns are emerging among traders and industry participants. The exact scope of this change is still being debated, but it’s likely to impact the operations of cryptocurrency companies in a major way.