UK Mandates Crypto Data Reporting by 2026 to Combat Tax Evasion

The UK government has announced plans to implement OECD’s CARF framework for reporting crypto data from 2026 onwards, aiming to enhance tax transparency and combat illicit activities. This new mandate applies to exchanges, dealers, and brokers operating within the UK and will require them to report user data under the framework. The initiative reflects a global effort towards improving financial reporting standards in the cryptocurrency space, especially as concerns about tax evasion rise.