The regulations introduced in the UK are part of the OECD Cryptoasset Reporting Framework (CARF) and require crypto platforms to share detailed information with tax authorities of clients’ crypto transactions.

From 1 January 2026, UK crypto holders will have to provide personal details to crypto service providers in a bid to crack down on tax evasion or face penalties of up to £300 from HMRC.

In addition, HMRC is already requiring full disclosure on self assessment forms for the 2024-25 tax year, so taxpayers who own crypto – like Bitcoin, Ethereum or Dogecoin –will have to include any crypto gains or income in their tax returns with a new dedicated section in the capital gain pages.

It is important to note that capital gains tax (CGT) may be due when selling or exchanging crypto if a gain is made, while income tax and national insurance could apply to crypto received from employment, mining, staking or lending activities.