More than 40 countries, including the United Kingdom, have officially begun enforcing new crypto tax regulations starting January 1, marking one of the biggest coordinated regulatory shifts in the digital asset sector.
According to recent industry reports, these rules are built under the Crypto-Asset Reporting Framework (CARF) developed by the OECD (Organisation for Economic Co-operation and Development) to enhance transparency, prevent tax evasion, and regulate cross-border crypto transactions.
Under the new framework, top crypto exchanges are now required to:
- Collect detailed transaction records of UK users
- Report user activity to HM Revenue & Customs (HMRC)
- Track user trading positions and tax residency status
The UK is among the first 48 adopters of this regulatory standard. Starting 2027, the UK will begin automatic data-sharing with EU member states and several major global economies including Brazil, the Cayman Islands, South Africa, and more.
In total, 75 countries have committed to adopting CARF in coming years.
The United States is expected to join the framework in 2028, with global information exchange slated to begin by 2029.
This marks a landmark moment for global cryptocurrency regulation, signalling a transition toward stricter compliance, enhanced transparency, and standardized global oversight.
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