Starting in 2026, crypto firms operating in the UK will be required to report detailed user data for every single transaction — a move aimed at boosting tax transparency and curbing abuse in the growing digital asset sector.
The upcoming rules will force exchanges, wallet providers, and related businesses to track full customer information, including names, addresses, taxpayer IDs, and specifics of each transaction. The regulations also extend to entities such as trusts and charities using crypto platforms.
The new reporting regime is part of the UK’s alignment with the OECD’s Cryptoasset Reporting Framework, a global initiative designed to close cross-border tax loopholes and monitor crypto flows more effectively.
Non-compliance could be costly, with fines reaching £300 per account if companies fail to meet the requirements. While official guidance is still pending, authorities are already urging crypto firms to begin preparing their systems now.
This data push follows a broader legislative effort to bring digital asset companies — from exchanges to custodians — under tighter scrutiny. Finance officials say the goal is clear: promote growth in the sector while cracking down on fraud and financial instability.
Unlike the EU’s MiCA framework, the UK’s approach appears more flexible — allowing foreign stablecoin issuers to operate domestically without needing to register, and placing no limits on stablecoin transaction volumes.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/uk-tightens-grip-on-crypto-transactions-with-new-data-rules/