More than 40 countries, including the UK, have implemented the OECD's "Cryptocurrency Asset Reporting Framework" since January 1.

According to a report by the Financial Times, the UK and over 40 other countries implemented the OECD's Reporting Framework for Cryptocurrency Assets (CARF) on January 1st. This framework crypto exchage, who must then report these transactions and their tax residency status to HMRC (Her Majesty's Revenue and Customs). The report states that the UK is one of the first 48 countries to implement the framework, and HMRC will automatically share relevant data with EU member states and participating parties such as Brazil, the Cayman Islands, and South Africa starting in 2027. A total of 75 countries have committed to implementing CARF, with the US planning to implement it in 2028 and begin exchanging information in 2029.