Odaily Planet Daily News According to the Cryptoasset Reporting Framework (CARF) that the UK tax authority will implement, starting from 2026, all cryptocurrency companies operating in the UK must collect and report detailed data about users and their transactions. This includes users' legal names, addresses, tax identification numbers, as well as the amount, asset type, quantity, and nature of each transaction. This regulation also applies to overseas companies providing services to UK customers. If the reported data is incomplete or incorrect, each user may face a fine of up to £300. The UK government encourages businesses to begin data collection work in advance to ensure compliance readiness. This move aims to strengthen regulation of the cryptocurrency industry, enhance investor confidence, and achieve closer cooperation with countries like the United States in digital asset regulation. Compared to the EU's Markets in Crypto-assets Regulation (MiCA), the UK has chosen to incorporate cryptocurrency assets into the existing financial framework rather than establishing an independent system, demonstrating a more open and global regulatory approach. (DL News)