UK Announces Mandatory Crypto Asset Reporting to Crypto Service Providers Starting from 2026

On July 7, HRMC issued a press release informing that, starting from January 2026, crypto currency owners must give personal details to all crypto service providers they use to make sure they are paying the right tax. This measure is a measure towards combating tax evasion by owners of this type of assets.

HRMC treats the majority of crypto assets as “other taxable income”. These include: tokens from mining, staking, lending or liquidity pool arrangements; crypto assets paid as employment income. The value of the asset received is subject to income tax and national insurance contributions. If the crypto asset is not a readily convertible asset, it may be subject to self-assessment tax.

The information on users which crypto service providers must collect and report includes:

• name, address, and date of birth;

• tax residence;

• national insurance number or tax reference;

• summary of crypto transactions.

The violation of the requirement (failure to report this information, or submission of inaccurate or incomplete reports by the provider) will result in a £300 fine.

Press release