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UK Government to Start Cracking Down on Crypto Tax Avoidance in January
UK Government to Start Cracking Down on Crypto Tax Avoidance in January
The U.K. released new guidelines that include rules for crypto exchanges to start providing the British tax authority with full customer information on all their digital assets.
By Olivier Acuna|Edited by Aoyon Ashraf
Nov 28, 2025, 5:14 p.m.
HMRC has released the framework that crypto exchanges must follow in 2026 as it begins to crack down on digital asset taxes.
What to know:
- Starting January 1, 2026, U.K. crypto exchanges must collect detailed transaction data from users to comply with new HMRC rules.
- The collected data will be used by HMRC to cross-check tax returns and ensure compliance, with sanctions for non-compliance.
- The U.K.'s new guidelines align with the OECD Crypto-Asset Reporting Framework, promoting transparency in the digital asset market.
U.K. resident users of major cryptocurrency exchanges will kick off the New Year with detailed transaction data automatically collected as the country’s authorities prepare to crack down on tax avoidance.
According to the new HM Revenue & Customs (HMRC) rules, crypto exchanges operating in the United Kingdom are required to start collecting the full transactional record from Jan. 1, 2026, of all their U.K. customers.
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“With platforms set to keep a record of this information from January 1, 2026, ahead of sharing it with HMRC the year after, the tax office will be able to cross-check tax returns against the data they’ve received,” Seb Maley, CEO of tax insurance provider Qdos, told FT.
British tax experts say that this gives crypto users, traders, and investors until the end of 2026 to get their digital asset affairs in order to avoid sanctions.
The new HMRC guidelines align the U.K. with the OECD Crypto-Asset Reporting Framework (CARF), which is designed to bring greater transparency to the fast-growing digital asset market and is already being rolled out in the European Union, Canada, Australia, Japan, and South Korea, among others.
Crypto exchanges, classified as "Reporting Cryptoasset Service Providers," must send the information in full detail directly to the HMRC in 2027. That data will enable the HMRC to determine the amount of tax crypto users must pay. The HMRC will sanction non-compliant platforms.
“This marks a major shift in how crypto trading is monitored from a tax perspective,” Maley told FT.
Read more: UK Proposes ‘No Gain, No Loss’ Tax Rule for DeFi in 'Major Win' for Users
HMRCUnited KingdomCrypto TaxesOECD
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- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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