The regulatory environment is changing, raising concerns for investors in crypto as in future the crypto currency trading platforms will be required to share data with HMRC. Confirmed in the recent Budget, although first announced by the last government in November 2023, the UK is to implement the OECD Cryptoasset Reporting Framework (CARF).

The CARF is the framework under which cryptoasset service providers must comply with reporting requirements in relation to users around the world. The draft regulations have been published by HMRC as part of a consultation which will end on 10 January 2025.