The UK will see £40 million ($55 million) in increased revenue in the first tax year after new global rules on reporting of digital asset transactions take effect, the UK tax office said Wednesday.
The new Cryptoasset Reporting Framework (CARF), which the UK will implement Jan. 1, 2026, will lead to a total of £315 million pounds in revenue by 2030, HMRC said.
About 50 UK cryptoasset service providers will be affected by the new rules, which are led by the OECD and require crypto companies to report transactions and user information to tax authorities.
The aim is to ...
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