He and over 40 countries officially adopt the CARF cryptocurrency tax reporting framework from 1/1

According to the Financial Times, the United Kingdom along with more than 40 countries has begun implementing new cryptocurrency tax reporting regulations from January 1 under the OECD’s Cryptoasset Reporting Framework (CARF). Major exchanges are required to collect and report transaction data, as well as the tax residency status of users in the UK to the HMRC tax authority.

The UK is one of the first 48 countries to adopt CARF. Starting in 2027, HMRC will share this data with other participating countries to enhance transparency and prevent cross-border tax evasion.

Currently, a total of 75 countries have committed to implementing CARF. The US plans to adopt this framework in 2028 and begin sharing data from 2029. CARF is seen as a significant step in the global effort to more tightly regulate the cryptocurrency market.