UK to Implement New Reporting Requirements for Cryptocurrency Users Starting 2026

According to PANews, starting January 1, 2026, cryptocurrency users in the United Kingdom will be required to submit detailed personal information to service providers. This includes their full name, date of birth, address, country of residence, and tax identification number. Failure to comply may result in fines of up to £300 (approximately $408). The UK’s HM Revenue and Customs (HMRC) has stated that this measure aims to link users' cryptocurrency activities with their tax records to accurately calculate owed taxes. The regulation will apply to all entities classified as crypto service providers, including exchanges, wallet applications, NFT marketplaces, and crypto asset management services.