A sweeping crackdown on crypto tax evasion took effect Thursday as the UK and 47 other countries launched mandatory transaction reporting for digital assets under new OECD-developed rules. According to Financial Times, major crypto exchanges must now collect complete transaction records for UK customers, including purchase prices, sale amounts, and profits, while simultaneously reporting users’ tax residency details to HM Revenue & Customs. The UK sits among the first wave implementing the Cryptoasset R ...

UK and 47 countries to impose CARF rules. Credit: olia danilevich. Key Takeaways The U.K. and dozens of other countries have begun enforcing a new global crypto tax reporting regime under CARF. Exchanges must now collect users’ tax residency details and report crypto transactions to tax authorities. The rules aim to close loopholes around undeclared crypto gains and significantly reduce anonymity. As governments tighten their grip on digital assets, 2026 is shaping up to be a turning point for c ...