All Crypto Transactions to Be Reported Starting 2026

Beginning January 1, 2026, UK-based crypto companies will be required to report all customer transactions, including trades and transfers. This is part of a broader initiative by the UK government to enhance crypto tax reporting and align with global standards.

The information to be collected and reported includes:

• Full legal name
• Home address
• Tax identification number
• Type of cryptocurrency used and the amount transferred

Additionally, entities like companies, trusts, and charities involved in crypto transactions will also fall under this reporting regime.

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Non-compliance or inaccurate reporting may result in penalties of up to £300 ($398.4) per customer.

Transparency Without Compromising Growth

This move is part of the UK’s adoption of the OECD’s Crypto-Asset Reporting Framework, which aims to balance market innovation with regulatory oversight.

UK Chancellor Rachel Reeves emphasized that the country remains open to business but is closing its doors to fraud, abuse, and instability. In April, she also introduced a draft bill that brings crypto exchanges, custodians, and brokers within the regulatory perimeter to better combat scams and financial misconduct.

UK vs EU: Diverging Paths in Crypto Regulation

While the UK is integrating crypto regulation into its existing financial structure, the European Union has opted for a dedicated framework through MiCA (Markets in Crypto-Assets Regulation). One major difference is that the UK will allow foreign stablecoin issuers to operate without registration, and it won’t impose volume caps — unlike the EU, which may restrict large stablecoin operations to mitigate systemic risks.

A recent survey by the UK’s Financial Conduct Authority showed that 12% of UK adults now own crypto, up from 4% in 2021. With growing adoption, a well-regulated ecosystem is becoming essential.

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