In 2026, UK resident crypto asset users will see a major change in how their activity is monitored. Any UK-based crypto asset service providers, such as exchanges or wallet platforms, will be required to report tax-relevant information about their customers directly to HMRC. This mirrors the system already in place for non-UK residents and is similar to how banks report on traditional accounts.
The move is part of a wider international effort to improve transparency around crypto ownership. Tax authorities across the globe are working together under frameworks like the OECD’s Crypto-Asset Reporting Framework to ensure that digital assets are treated in the same way as other financial products. As crypto adoption grows, regulators are keen to close loopholes and prevent tax evasion.
For everyday users, this means HMRC will have access to much of the data about your crypto holdings and transactions automatically. While you will still need to declare gains and income, the authorities will be able to cross-check your tax returns against information provided by the platforms you use. In practice, this reduces the margin for error and increases scrutiny.
The system is modelled on existing financial reporting rules, where banks and investment platforms already share information about interest, dividends, and capital gains. Extending this to crypto ensures consistency across both traditional and digital assets.
As the deadline approaches, UK crypto users should be mindful of how they manage their records and tax obligations.
