UK and 40+ Countries Launch Global Crypto Tax Reporting System
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 03 2026- Global Tax Tracking: As of January 1, 2026, the UK and 48 other countries have implemented the OECD's Cryptoasset Reporting Framework (CARF), requiring major exchanges to collect user transaction records, thereby enhancing tax transparency and reducing the likelihood of tax evasion by investors.
- Data Sharing Mechanism: By 2027, HMRC will begin automatically sharing crypto data with other tax authorities, including EU countries and places like Brazil and South Africa, marking a significant shift in global crypto investment regulation and enhancing oversight capabilities across nations.
- Tax Policy Impact: Under UK policy, crypto profits exceeding the £3,000 annual allowance are subject to capital gains tax, with frequent trading potentially taxed as income, prompting investors to prioritize compliance to avoid legal risks associated with tax obligations.
- Increased Compliance: HMRC has ramped up enforcement by sending more warning letters and adding a crypto section to tax returns, and with the impending global data sharing, investors must take compliance seriously, signaling the end of the era of quiet crypto gains.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
