News · 5 January 2026
UK crypto users' data to be shared with HMRC
Starting January 1, 2026, the UK implemented the Cryptoasset Reporting Framework requiring crypto exchanges to automatically share user account details with HMRC. The rules affect an estimated 6-7 million UK crypto users and aim to capture previously unreported gains. Exchanges must report customer identities, transaction histories, and profits. HMRC expects to raise £315 million in unpaid taxes by 2030. Users who refuse to provide details or make false declarations face penalties up to £300 per user.
Reported by Financial Times · How we write briefs