Beginning January 1, 2026, UK crypto firms are mandated to report every customer transaction, which includes collecting personal and transaction details. This initiative aims to boost proper crypto tax reporting and improve transparency.
The UK will adopt the OECD’s Cryptoasset Reporting Framework, emphasizing the importance of consumer protection. UK Chancellor Rachel Reeves aims to regulate exchanges and brokers to prevent fraud and instabilities in the crypto market.
The UK’s integration of these reporting requirements contrasts with the EU’s approach, allowing foreign stablecoin issuers to operate without registration while the EU may impose volume caps to mitigate risks.
Leave a Reply