UK Crypto Update: Completing the CARF Jigsaw | Cadwalader, Wickersham & Taft LLP
Following a series of consultations, in June 2025 His Majesty’s Revenue and Customs (“HMRC”) published a policy paper titled ‘Implementation of the Cryptoasset Reporting Framework’.[1] The paper sets out the United Kingdom’s (“UK”) approach to implementing new rules on reporting information related to crypto-asset transactions. The rules mark a significant step in advancing tax transparency and compliance for crypto-assets.
Crypto-Asset Reporting Framework (“CARF”), introduced by the Organisation for Economic Co-operation and Development (“OECD”), establishes a framework under which reporting crypto-asset service providers (“RCASPs”) must collect and report details on crypto-asset users and crypto-asset…
