Cripto companies in Great Britain said to report every user and transaction or risky sentences – DL News

The United Kingdom starts to make more space for the CRIPTO, but it wants receipts for each user, trade and transmission.

Starting on the first day 2026. years, it is necessary to use crieders of firms operating in the country Collect and report Detailed data of users and transactions within the new frame that overturned the UK tax authority.

The change stems from the acquisition of Great Britain CRIPTOASSET reporting box – The global standard is designed to break at the tax evasion and brings crypto transparency in accordance with banking.

The platform will need to identify each user and record their legal details, addresses and tax numbers.

They will also need to document any transaction involving users in the UK or those in other participating countries, including value, type of property, quantity and nature of transmission.

The requirements even extend to foreign companies that serve clients in the UK and penalties up to £ 300, will be applied for incorrect or incomplete reporting.

Although the rules will not be applied until 2026. years, authorities encourage companies to start data collection now to ensure compliance willingness.

Open access

The new regime is part of the wider government campaign to tighten the crypto regulation during the growth of the sector growth.

In speech during the Big Sunday, Commeller Rachel Reeves announced draft legislation to bring crypto exchange, dealers and keeper in the regulatory rim, promising stricter supervision over consumer protection and operational resistance.

“Robust rules around the CRIPT will increase investor confidence, support the growth of Fintech and protect people throughout the United Kingdom” Reeves said.

United Kingdom also signaled closer regulatory harmonization with the US, floating the idea of ​​transatlantic sand for digital property as part of its work Change plan Economic Agenda.

Contrast Mica

Access to the UK is also different from the new rules of the European Union MICA.

According to the GICA CRIPTO Alliance, the United Kingdom chooses to fold the crypto into its existing financial framework, not to build a completely separate system.

This includes covering lending, lending, putting and stablecoins under traditional financial law, without the need to authorize abroad for Stablecoin to be authorized in the UK or imposition for coolments to volume.

“This signals a more open, more global harmonized approach from EU focus on localization and block level control” The group wrote On K, adding so much will depend on how the UK regulators carry out the final rules.

Kyle Baird is DL news “editor of the weekend. You have the top? E-mail on kbaird@dlnews.com.