The UK's HM Revenue and Customs (HMRC) has announced new regulations requiring cryptocurrency exchanges operating in the UK to collect comprehensive transaction data from all UK users starting January 1, 2026. These exchanges must report the data to HMRC by 2027 to facilitate tax compliance checks and curb crypto tax evasion. Experts advise users to organize their records by the end of 2026 to avoid penalties. This framework aligns with the OECD's Crypto-Asset Reporting Framework (CARF), which includes jurisdictions such as the EU, Canada, Australia, Japan, and South Korea.