UK Imposes New Crypto Reporting Rules Under OECD Framework
The UK’s HM Revenue & Customs (HMRC) is implementing stringent reporting requirements for cryptocurrency firms, mandating data collection on user transactions starting January 2026. The rules align with the OECD’s Crypto Asset Reporting Framework (CARF), targeting exchanges, brokers, and dealers classified as Reporting Crypto Asset Service Providers (RCASPs).
First reports will be due in May 2027, with HMRC urging early compliance preparation. Non-compliant firms face potential fines. The MOVE signals growing institutional oversight of digital asset markets as governments worldwide seek greater transparency.