tldr; Starting January 1, 2026, the UK will require cryptocurrency firms to report detailed data on every customer transaction, including names, addresses, tax IDs, and trade specifics. This is part of the Cryptoasset Reporting Framework (CARF) to enhance tax transparency and combat evasion. Non-compliance may result in penalties of up to £300 per user. Foreign platforms serving UK customers will also be subject to these rules, reflecting the UK’s effort to regulate the crypto sector while supporting industry growth and consumer protection.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
AgitatedDragonfly769 on
Can we please start with a report of everything stupid our government does.
Deacon86 on
Gotta be honest, I assumed they already did this.
3meterflatty on
Monero time ladies and gentlemen
KIG45 on
This was inevitable with the regulations and all countries will do it. So be careful where you buy from so you don’t get flagged or frozen. This is the reality.
ACSportsbooks on
The UK has become Big Brother.
Bear-Bull-Pig on
This feels like a good way to get burried in data
pff112 on
its over
turbo5vz on
Unfortunately many countries are going to start following this. There’s an entire crypto reporting framework proposed by the OECD, of which there are many participating nations.
MK2809 on
They will likely still make lots of errors from the data they receive, just like the post office scandal
theweeJoe on
This means they will be able to calculate our tax for us right? RIGHT?
Obsidianram on
I seem to recall something called the *Panama Papers* that had troves of unreported transactions…
Lead by example…
c05d on
1984…
1HOTelcORALesSEX1 on
Just look, it’s on the blockchain, no need to report it 🤷♂️
2070FUTURENOWWHUURT on
Labour are such a bunch of stupid cunts really
Telling everybody the UK is going to be the world’s crypto capital and all they can think to precipitate this is wheeling out crushing regulations, one after the other to put everybody off
Liberal parties are such total fucking tools with anything to do with money, just unbelievably inept.
BasisOk4268 on
And with that I’m out
Acceptable-Boss8750 on
Expect dapps to just start geoblocking the UK. 😢
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tldr; Starting January 1, 2026, the UK will require cryptocurrency firms to report detailed data on every customer transaction, including names, addresses, tax IDs, and trade specifics. This is part of the Cryptoasset Reporting Framework (CARF) to enhance tax transparency and combat evasion. Non-compliance may result in penalties of up to £300 per user. Foreign platforms serving UK customers will also be subject to these rules, reflecting the UK’s effort to regulate the crypto sector while supporting industry growth and consumer protection.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Can we please start with a report of everything stupid our government does.
Gotta be honest, I assumed they already did this.
Monero time ladies and gentlemen
This was inevitable with the regulations and all countries will do it. So be careful where you buy from so you don’t get flagged or frozen. This is the reality.
The UK has become Big Brother.
This feels like a good way to get burried in data
its over
Unfortunately many countries are going to start following this. There’s an entire crypto reporting framework proposed by the OECD, of which there are many participating nations.
They will likely still make lots of errors from the data they receive, just like the post office scandal
This means they will be able to calculate our tax for us right? RIGHT?
I seem to recall something called the *Panama Papers* that had troves of unreported transactions…
Lead by example…
1984…
Just look, it’s on the blockchain, no need to report it 🤷♂️
Labour are such a bunch of stupid cunts really
Telling everybody the UK is going to be the world’s crypto capital and all they can think to precipitate this is wheeling out crushing regulations, one after the other to put everybody off
Liberal parties are such total fucking tools with anything to do with money, just unbelievably inept.
And with that I’m out
Expect dapps to just start geoblocking the UK. 😢