Starting from 2026, the UK will require cryptocurrency companies to report user and transaction data

Odaily Planet Daily News: According to the upcoming Cryptoasset Reporting Framework (CARF) implemented by the UK tax authorities, starting from 2026, all crypto asset companies operating in the UK must collect and report detailed data on users and their transactions. This includes the user's legal name, address, tax identification number, as well as the amount, asset type, quantity, and nature of each transaction. This regulation also applies to overseas companies that provide services to UK clients. If the report data is incomplete or incorrect, each user can be fined up to £ 300. The UK government encourages businesses to start data collection work in advance to ensure compliance readiness. This move aims to strengthen regulation of the cryptocurrency industry, boost investor confidence, and achieve closer cooperation with countries such as the United States in digital asset regulation. Compared to the EU's Crypto Asset Market Regulation Act (MiCA), the UK has chosen to incorporate crypto assets into its existing financial framework rather than establishing an independent system, demonstrating a more open and global regulatory path. （DL News）