From 1/1/2026, all crypto exchanges and wallets operating in the UK must submit detailed records of each transaction to the tax authority (HMRC). Each record must include:

- Name, address, and tax identification number of the customer.

- Type and quantity of coin.

- Legal entity information if it is an organization.

Reporting errors or missing data may incur penalties of up to £300 per customer. HMRC recommends that businesses start collecting information now to be prepared. Unlike the EU, the UK does not require foreign stablecoin issuers to register and does not impose a cap on circulating volumes.