UK Begins Major Crypto Tax Crackdown Under Global Reporting Rules

The post UK Begins Major Crypto Tax Crackdown Under Global Reporting Rules appeared first on Coinpedia Fintech News

The UK has officially started one of its biggest crackdowns on crypto tax evasion. As of January 1, 2026, the government began enforcing the OECD’s Cryptoasset Reporting Framework (CARF), rules to prevent crypto tax evasion and improve transparency in the market.

Failing to obey the rule will result in a hefty fine and strict legal consequences. 

UK Starts Crypto Tax Reporting Under OECD Framework

According to updates from the Organisation for Economic Co-operation and Development (OECD), the UK has begun enforcing the CARF, aiming to reduce tax evasion.

This new system requires crypto exchanges and platforms to collect and share detailed information, such as wallet activity, transaction history, and tax details, such as National Insurance numbers, with tax authorities. 

In the UK, this data will be reported directly to HM Revenue & Customs (HMRC). Meanwhile, reports covering all crypto activity during 2026 must be submitted by May 31, 2027. 

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