The United Kingdom will require domestic crypto platforms to report all transactions from UK-resident users starting in 2026, expanding the scope of the Cryptoasset Reporting Framework (CARF). This change will give HMRC access to both domestic and cross-border crypto data for tax compliance and global information exchange in 2027. CARF focuses on cross-border activity and aims to prevent crypto from escaping traditional financial visibility.

The UK proposed a “no gain, no loss” tax framework for DeFi users, deferring capital gains liabilities until tokens are sold. This move aims to streamline reporting for crypto companies and enhance tax authorities’ ability to identify noncompliance. Governments worldwide are updating tax codes to capture digital asset activity more effectively, with South Korea seizing cryptocurrency held in cold wallets and Spain proposing a higher tax rate on crypto gains.

Switzerland has postponed automatic crypto information exchange with foreign tax authorities until 2027 to determine data-sharing partners. Meanwhile, in the US, Representative Warren Davidson introduced a bill allowing Americans to pay federal taxes in Bitcoin, exempting these payments from capital gains taxes. The Bitcoin for America Act would establish a national BTC reserve with taxpayer contributions.

Read more at Cointelegraph: UK Expands Crypto Reporting Rules as Global Tax Oversight Tightens