According to BlockBeats news on May 17, as reported by DL News, starting January 1, 2026, crypto asset companies operating in the UK will be required to collect and report detailed user and transaction data in accordance with a new regulation issued by the UK tax authority.
This change stems from the UK's adoption of the Crypto Asset Reporting Framework (CARF) — a global standard aimed at combating tax evasion and aligning the transparency of the crypto industry with that of the banking system.
Under the new regulations, crypto platforms must identify each user and record their legal identity information, address, and taxpayer identification number.
In addition, platforms must also record each transaction involving UK users or users from other CARF participant countries, including details such as transaction amount, asset type, quantity, and nature of the transfer.
These requirements also apply to overseas companies providing services to UK customers. If the reported information is incorrect or incomplete, each user may face a fine of up to £300.