According to the Financial Times (FT), the UK and more than 40 other countries have implemented new cryptocurrency tax regulatory rules starting January 1st. Under the Crypto-Asset Reporting Framework (CARF) formulated by the Organisation for Economic Co-operation and Development (OECD), major cryptocurrency exchanges are required to collect complete transaction records for UK users, and report users' transaction details and tax residency status to HM Revenue and Customs (HMRC). The UK is among the first 48 countries to roll out this framework.

As scheduled, starting from 2027, HMRC will automatically share relevant data with EU member states and participating countries including Brazil, the Cayman Islands and South Africa. A total of 75 countries have committed to implementing CARF. The United States plans to enforce the framework in 2028 and start information exchange in 2029.