Yes — to a large extent. Here’s how it works in the UK with HM Revenue & Customs (HMRC):
✅ What is already happening
- Crypto disposals (for example selling, swapping, or using cryptoassets) must be reported by the individual to HMRC (via Self Assessment) if they produce taxable gains. Koinly+2Blockpit+2
- HMRC has already confirmed that UK-based crypto exchanges and service providers will be required to collect user/transaction data under the new Crypto‑asset Reporting Framework (CARF) rules. GOV.UK+2GOV.UK+2
- Some exchanges (for example Coinbase) have shared user data with HMRC for UK users above certain thresholds. Koinly+1
⚠️ What is changing / new rules
- From 1 January 2026, UK crypto-asset service providers (CASPs) must start collecting detailed user identity data and transaction data (type of cryptoasset, value, type of transaction, etc.). GOV.UK+1
- The first reports to HMRC (covering transactions from 1 Jan 2026 to 31 Dec 2026) by those service providers will be due by 31 May 2027. MHA+1
- Penalties: if a service provider doesn’t comply (or collects inaccurate/incomplete data) it may face penalties (e.g., up to £300 per user) for non-compliance. GOV.UK+1
🔍 What this means for you (or someone using a crypto exchange)
- If you are using a UK-registered exchange or a service provider that falls within the UK or CARF jurisdiction, it is very likely that your transaction data will be shared with HMRC (or can be).
- Even if your crypto provider is overseas, if you are UK resident and the service falls under CARF rules, data may still be passed to HMRC via the international framework. CRS+1
- You still personally have the obligation to report your crypto gains / income to HMRC (via Self Assessment). The fact that exchange data may be shared does not remove your tax-reporting responsibility.
- You should keep proper records: all buys, sells, swaps, transfers, the values in GBP at the time, dates etc. HMRC expects this. KoinX+1
📝 Bottom Line
Yes — crypto exchanges and service providers will be reporting data to HMRC under the new rules. The framework is being phased in (starting Jan 2026) but the direction is clear: greater reporting, less anonymity.
At the same time, HMRC already has tools and arrangements (or the ability to use existing ones) to collect user data from crypto firms for tax compliance.
