The United Kingdom government will require crypto companies to collect and report user and transaction data from 1 January 2026. This includes each user’s full name, home address, and tax identification number.
Hefty Fine of £300 Per User for Misreporting
According to an announcement by HM Revenue & Customs last week, the UK government’s data collection plan will follow the Organisation for Economic Co-operation and Development (OECD) Cryptoasset Reporting Framework (CARF).
“You may want to start collecting information earlier, so that you are ready when the new rules come into force,” the announcement stated. Failure to provide accurate, complete, or verified reports may result in penalties of up to £300 per user.
You may also like: Japan Will Reclassify Crypto as Financial Products—What It Means for Investors
“You’ll need to verify that the information you collect is accurate by carrying out due diligence. We’ll update the guidance with information about how to do this in due course,” it added.
🇬🇧 New UK regulations mandate reporting ALL crypto transactions by 2026.
Firms must report sender and recipient names, addresses, tax IDs & full trade details (token type, quantity, GBP value, & timestamp). Non-compliance may incur fines up to £300 per user.
The UK is done.
— Gordon (@AltcoinGordon) May 18, 2025
Home Address to TIN – Nothing Is Off Limits
The data must be collected for all individual users, entity users, and cryptoasset transactions involving users in the UK and other CARF countries.
For individual users, the required data includes the user’s name, date of birth, home address, country of residence, National Insurance number or Unique Taxpayer Reference (for UK residents), and the tax identification number (TIN) along with the country where it was issued (for non-UK residents).
For entity users, companies must collect the legal business name, main business address, the registration number (for UK firms), and the TIN and issuing country (for non-UK firms). In some cases, platforms must also gather details of the company’s controlling persons.
The transaction data that must be recorded and reported includes the value, type of cryptoassets, type of transaction, and the number of units.
These new rules may lead to the collection of a large volume of data. According to a recent YouGov survey, the number of Britons buying cryptocurrencies more than doubled from 6 per cent in 2022 to 14 per cent in 2023.
Meanwhile, the UK’s Financial Conduct Authority (FCA) recently revealed that it is considering restrictions on UK residents purchasing cryptocurrencies using credit. However, authorised stablecoin purchases would be exempt. The regulator is currently seeking public feedback on this and other planned measures.
At present, the FCA requires all crypto firms operating in the UK to register. Its oversight is currently limited to anti-money laundering rules, the financial promotions regime, and consumer protection laws.
Despite the registration requirement, the FCA rejected 86 per cent of crypto firm applications in the 12 months ending April 2024. In the current financial year, however, the rejection rate has dropped to 75 per cent.
The United Kingdom government will require crypto companies to collect and report user and transaction data from 1 January 2026. This includes each user’s full name, home address, and tax identification number.
Hefty Fine of £300 Per User for Misreporting
According to an announcement by HM Revenue & Customs last week, the UK government’s data collection plan will follow the Organisation for Economic Co-operation and Development (OECD) Cryptoasset Reporting Framework (CARF).
“You may want to start collecting information earlier, so that you are ready when the new rules come into force,” the announcement stated. Failure to provide accurate, complete, or verified reports may result in penalties of up to £300 per user.
You may also like: Japan Will Reclassify Crypto as Financial Products—What It Means for Investors
“You’ll need to verify that the information you collect is accurate by carrying out due diligence. We’ll update the guidance with information about how to do this in due course,” it added.
🇬🇧 New UK regulations mandate reporting ALL crypto transactions by 2026.
Firms must report sender and recipient names, addresses, tax IDs & full trade details (token type, quantity, GBP value, & timestamp). Non-compliance may incur fines up to £300 per user.
The UK is done.
— Gordon (@AltcoinGordon) May 18, 2025
Home Address to TIN – Nothing Is Off Limits
The data must be collected for all individual users, entity users, and cryptoasset transactions involving users in the UK and other CARF countries.
For individual users, the required data includes the user’s name, date of birth, home address, country of residence, National Insurance number or Unique Taxpayer Reference (for UK residents), and the tax identification number (TIN) along with the country where it was issued (for non-UK residents).
For entity users, companies must collect the legal business name, main business address, the registration number (for UK firms), and the TIN and issuing country (for non-UK firms). In some cases, platforms must also gather details of the company’s controlling persons.
The transaction data that must be recorded and reported includes the value, type of cryptoassets, type of transaction, and the number of units.
These new rules may lead to the collection of a large volume of data. According to a recent YouGov survey, the number of Britons buying cryptocurrencies more than doubled from 6 per cent in 2022 to 14 per cent in 2023.
Meanwhile, the UK’s Financial Conduct Authority (FCA) recently revealed that it is considering restrictions on UK residents purchasing cryptocurrencies using credit. However, authorised stablecoin purchases would be exempt. The regulator is currently seeking public feedback on this and other planned measures.
At present, the FCA requires all crypto firms operating in the UK to register. Its oversight is currently limited to anti-money laundering rules, the financial promotions regime, and consumer protection laws.
Despite the registration requirement, the FCA rejected 86 per cent of crypto firm applications in the 12 months ending April 2024. In the current financial year, however, the rejection rate has dropped to 75 per cent.
