EU, UK crypto platforms compiling 2026 data for 2027 tax reports

Crypto-asset service providers in the European Union and the United Kingdom started collecting user identity and transaction data on Jan. 1, 2026 under the EU’s DAC8 rules and the UK’s Cryptoasset Reporting Framework (CARF). The information gathered during 2026 will be compiled into standardized reports that providers submit to tax authorities in 2027 and, in many cases, routed to the user’s country of tax residence.

Under DAC8, providers in EU member states file reports with the tax authority in their home member state. Those authorities must exchange information on nonresident users with the users’ EU country of tax residence by Sept. 30, 2027. In the UK, covered providers must submit their first CARF reports to HM Revenue & Customs between Jan. 1 and May 31, 2027, covering activity from Jan. 1 through Dec. 31, 2026. Outward exchange of UK CARF reports depends on whether the foreign jurisdiction has an operative agreement or arrangement with the UK and appears on the UK’s reportable-jurisdiction list.

The content and scope of what providers collect depend on the provider, the user and the reporting regime. DAC8 requires annual quantitative data broken down by reportable cryptoasset and prescribed transaction category, including units, counts and fair market values. UK guidance requires providers to collect identifying information for every user and to report transaction data for users in the UK and in CARF-participating jurisdictions. Reported details can include tax residence, tax identification numbers and summaries of reportable activity.

The reports that reach authorities are standardized summaries rather than full trade histories. They present aggregate annual amounts, units and categorized transactions. Provider reports do not calculate cost basis, capital gains or tax owed. They may omit activity that occurred on other exchanges or in private wallets, and transfers between a platform and an external wallet can leave gaps unless a user’s own records connect both sides.

Recordkeeping guidance accompanying the rules lists per-transaction information that supports tax compliance. Recommended records include transaction dates and timestamps, asset names and units, the local-currency value at each transaction date, wallet addresses and transaction hashes for transfers, trading and network fees, bank or card statements, and acquisition documentation from other platforms or prior years. Authorities note that full platform exports are more useful than screenshots of current balances.

Which authority receives a report first depends on the provider’s legal entity, not only the user’s residence. The OECD maintains a register of activated CARF exchange relationships, their direction, legal basis and effective dates; some relationships may not be reciprocal. Users and advisers will receive standardized summaries from authorities in 2027, while detailed transaction records must come from platform exports and personal records to establish tax positions.