According to reports from Wu, the UK tax authorities have announced that starting from January 1, 2026, cryptocurrency companies operating in the UK will be required to fully report user and transaction data, adhering to the Global Crypto Asset Reporting Framework (CARF). This move aims to combat tax evasion and enhance transparency. Platforms must record user identities, addresses, tax identification numbers, and details of each transaction, including those involving users in the UK or other CARF countries. Foreign companies serving UK customers must also comply, and violators will face penalties of up to £300 per user.