UK Mandates Crypto Reporting by 2026

Starting January 1, 2026, all cryptoasset service providers operating in the UK must report detailed data on users and transactions. This applies to both domestic and foreign firms.

The move is part of the UK’s adoption of the Cryptoasset Reporting Framework (CARF). It is a global standard developed by the Organisation for Economic Co-operation and Development (OECD). It signals a major shift in how the government plans to monitor digital assets—more scrutiny, more structure, and hefty penalties for non-compliance.

What Crypto Firms Need to Know

Under the new rules, crypto platforms must identify every user and store their legal name, address, and tax identification number. This applies not only to UK-based users but also to those in any other CARF-participating country. Firms must also record transaction-level data, including the asset type, quantity, value, and nature of each trade or transfer.

Even foreign exchanges serving UK clients won’t be off the hook. They, too, will be expected to comply or risk facing fines. And those fines are no joke. Incorrect or missing data could cost firms up to £300 per user. That adds up quickly for platforms serving tens of thousands—or even millions—of users.