United Kingdom, Cryptocurrency Platform User Data Reporting Mandatory...Implemented From Next Year

Her Majesty's Revenue and Customs (HMRC) announced that starting January 2026, cryptocurrency platforms will be required to report user and transaction data by applying the Crypto-Asset Reporting Framework (CARF) of the Organisation for Economic Co-operation and Development (OECD).

According to DL News, under this regulation, cryptocurrency platforms must report data including user name, address, Tax Identification Number (TIN), transaction amount, asset type and quantity. The regulation also applies equally to foreign companies providing services to UK customers.

If the reporting obligation is violated or the content is inadequate, a fine of up to 3 million pounds (approximately 490 billion won) may be imposed.

The UK government explained that this measure aims to ensure transparency in cryptocurrency transactions and secure tax revenue, and to prepare a digital asset taxation system in line with global standards. There are concerns in the cryptocurrency industry about the increasing burden of user data management.