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Several countries including the UK have implemented the "Crypto Asset Reporting Framework" starting from January 1st, with cryptocurrency transaction data being shared across borders.
BlockBeats News, January 1st. According to the Financial Times, the UK and over 40 other countries have implemented new cryptocurrency tax regulations starting from January 1st. Based on the OECD's Crypto Asset Reporting Framework (CARF), major crypto exchanges are required to collect complete transaction records for UK users and report users' transaction activities and tax residency status to Her Majesty's Revenue and Customs (HMRC) in the UK.
The UK is one of the first 48 countries to implement this framework. As part of the arrangement, starting from 2027, HMRC will automatically share relevant data with EU member states, Brazil, the Cayman Islands, South Africa, and other participating countries. A total of 75 countries have committed to implementing CARF, with the United States planning to implement it in 2028 and begin information exchange in 2029.
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