Crypto Industry, Users Prep for Beefed-Up Tax Scrutiny

Crypto exchanges are putting systems in place for collecting extensive user data for EU and UK tax authorities from January 2026, while their users may opt to use different systems to avoid the increased scrutiny.

The Crypto-Asset Reporting Framework, OECD-led reporting standards that take effect Jan. 1 2026 across EU countries and the UK will allow tax agencies to assess the risk of tax evasion by matching information on tax returns with the data gathered, according to industry executives.

“The amount of reporting is much more onerous” than traditional financial systems, said Max Bernt, global head of regulatory affairs and ...