UK Crypto Firms Will Need to Collect Every Customer’s Address, Tax Number from 2026
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.
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