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UK Mandates Crypto Firms to Report User Data by 2026

5/19/2025

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Summary

Story summary

Beginning January 1, 2026, UK crypto firms will be required to gather and report user data, including names, addresses, and tax IDs, as part of the OECD's Crypto-Asset Reporting Framework. Failure to comply could result in hefty fines of up to £300 per user. This move aims to boost transparency and align with global tax standards, setting the UK apart from the EU’s MiCA model.

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Story summary

Beginning January 1, 2026, UK crypto firms will be required to gather and report user data, including names, addresses, and tax IDs, as part of the OECD's Crypto-Asset Reporting Framework. Failure to comply could result in hefty fines of up to £300 per user. This move aims to boost transparency and align with global tax standards, setting the UK apart from the EU’s MiCA model.