<ul><li>UK confirms implementation of new crypto tax data rules under OECD's Crypto-Asset Reporting Framework (CARF) to align with international tax transparency standards.</li><li>Cryptoasset service providers (CASPs) in the UK must collect user data starting 2026 and begin reporting by May 2027 to curb tax evasion and enhance accountability within the digital asset sector.</li><li>CASPs need to collect data from all users but report only on those who are UK tax residents or residents of CARF-aligned countries.</li><li>HMRC has outlined penalties of up to £300 per user for non-compliance with the new rules, encouraging firms to prepare internal systems for data collection and reporting.</li></ul>

UK confirms crypto tax data rules under CARF; first deadline set for May 2027

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