More than 40 countries, including the UK, have implemented new cryptocurrency tax rules requiring exchanges to collect user transaction records and report them

According to the Financial Times, the UK and more than 40 other countries have implemented new tax regulations for crypto assets.

Under the Crypto-Asset Reporting Framework (CARF) established by the Organisation for Economic Co-operation and Development (OECD), major crypto exchanges are required to collect complete transaction records for UK users and report user transaction details and tax residency status to Her Majesty's Revenue and Customs (HMRC).