UK Mandates Crypto Reporting to Combat Tax Evasion by 2026
Cryptocurrency firms in the UK to follow global reporting standards by 2026.
Increased operational costs may impact the presence of crypto firms in the UK.
The UK aligns with over 40 nations to combat tax evasion in the crypto sector.
UK to Enforce Global Crypto Reporting Standards by 2026
Cryptocurrency companies in the UK will need to report detailed user and transaction data from January 1, 2026, aligning with the new Crypto Asset Reporting Framework.
This initiative enhances transparency in the crypto sector, aiming to combat tax evasion and align the UK with global reporting standards.
