Do Crypto Exchanges Report to HMRC? CARF Rules Explained

"Do crypto exchanges report to HMRC?" is one of the questions we are asked most often, and in 2026 the answer has changed in an important way. HMRC crypto tax reporting no longer relies only on one-off information requests. Since 1 January 2026, UK cryptoasset service providers have been collecting customer and transaction details under the Cryptoasset Reporting Framework (CARF), and the first annual reports reach HMRC in 2027. This guide explains what HMRC can already see, what CARF adds, and what it means if you have gains or income you have not yet reported.

HMRC crypto tax reporting: how HMRC gets information

Many people assume that because crypto is held in a wallet or on an app, HMRC has no visibility of it. That has never been a safe assumption. HMRC has statutory information powers that allow it to require businesses to provide records about their customers, and it says it "regularly gathers data from a range of information sources".

Past information requests to UK crypto platforms

In 2019 it was widely reported that HMRC had written to several exchanges operating in the UK asking for customer details and transaction histories. In 2020, trade press reported that Coinbase had told some UK customers it would share data, following an HMRC notice, about customers with a UK address who received more than £5,000 of cryptoassets during 2019/20. Those requests were targeted and historic; the bigger change is that reporting is now routine and annual.

The Cryptoasset Reporting Framework (CARF) explained

The Cryptoasset Reporting Framework is an international standard developed by the OECD for the automatic exchange of crypto information between tax authorities. The UK began implementing CARF from January 2026 and has extended it to include domestic reporting, so it covers UK-resident users of UK platforms as well as cross-border information sharing.

According to GOV.UK, if a business provides cryptoasset services in the UK, it must collect data and report it to HMRC. Providers need to collect details of all users, but they report on users who are tax resident in the UK or in another country that has signed up to CARF, along with a summary of their transactions.

What information UK platforms collect

For individual users, HMRC's guidance for providers lists:

• name, date of birth and home address
• country of residence
• for UK residents, a National Insurance number or Unique Taxpayer Reference
• for non-UK residents, a tax identification number and the country that issued it

For companies and other entities, providers collect the legal business name, main business address and, for UK companies, the company registration number, plus details of controlling persons where applicable.

For transactions, providers collect the value, the type of cryptoasset, the type of transaction and the number of units. In other words, HMRC will receive a summary of what you bought, sold, swapped or transferred, linked to your tax identifiers.

When providers report to HMRC

Data collection began on 1 January 2026. Providers must submit their first report between 1 January 2027 and 31 May 2027, covering 1 January 2026 to 31 December 2026. After that, reports are due by 31 May each year for the previous calendar year. Note that CARF uses calendar years, while UK tax years run from 6 April to 5 April, so HMRC will be matching calendar-year data against tax-year returns.

Does Coinbase or Binance report to HMRC?

We cannot tell you which named platforms are registered as reporting providers or what each one sends; that is a question for the platform. What we can say is how the rules work:

• Platforms providing cryptoasset services in the UK are within the UK CARF rules and report to HMRC directly.
• Platforms based in other CARF-participating countries report to their own tax authority, and the information can be exchanged with HMRC under international agreements, based on where you are tax resident.
• GOV.UK states that you must provide your details to every cryptoasset service provider you use, even if they are not based in the UK.

So rather than asking "does Coinbase report to HMRC?" or "does Binance report to HMRC?", the better question is: would HMRC have any difficulty finding out about my activity? For most UK residents using mainstream platforms, the honest answer from 2027 onwards is likely to be no.

Which crypto exchanges report to HMRC?

There is no single public list we would rely on. In practice, assume that any platform asking for your tax identification number is collecting information it may need to report.

Information you must give to your crypto platform

Under the new rules, the obligations are not only on the platforms. HMRC's guidance for users says you need to give each provider your full name, date of birth, the address and country where you normally live, and your tax identification number. For UK residents that is your National Insurance number or Unique Taxpayer Reference.

GOV.UK says: "If you give inaccurate details or do not give details to a UK service provider, you could get a penalty of up to £300." HMRC's internal manual indicates this penalty applies where the failure is deliberate or due to a failure to take reasonable care. Providers can also face penalties of up to £300 per user if they do not report, report late or report inaccurately. We cover this in more detail in our article on the £300 CARF penalty.

CARF requires identity and tax information only. Never share your private keys or seed phrase with anyone.

What HMRC cryptocurrency information sharing means for you

GOV.UK says the information you give is used to link your cryptoasset activity to your tax record, making it easier for HMRC to find out what tax you need to pay. In practical terms, from 2027 HMRC will be able to compare platform data with what people have (or have not) declared on their tax returns.

This matters most for three groups:

1. People with gains above the annual exempt amount who have not filed a return. Swapping one token for another, spending crypto and selling for pounds can all be disposals for Capital Gains Tax. Our guide to crypto Capital Gains Tax in the UK explains how gains are worked out.
2. People with staking, lending or other crypto income, which may be taxable as income even if you never sold anything. See how to report crypto staking and DeFi income.
3. People who sold more than £50,000 of assets in a year and are registered for Self Assessment. GOV.UK says you need to report in that situation from 2023/24 onwards, even where gains are covered by the allowance.

CARF data is a summary and may not show your full cost base or transfers between your own wallets, so good records work in your favour.

Unreported crypto gains? Practical next steps

If HMRC crypto tax reporting has made you realise that past years may not be right, there is no need to panic, but there is a good reason to act sooner rather than later.

1. Gather your data. Download full transaction histories from every platform you have used, including closed accounts, and list your wallet addresses.
2. Work out the figures. Gains need to be calculated in pounds sterling using HMRC's pooling rules. If you already have a report from crypto tax software, it is worth having it reviewed, because imports and classifications are a common source of errors. Our common crypto tax pitfalls article covers the usual problems.
3. Decide how to correct things. Recent years may be amendable through Self Assessment; older years usually go through HMRC's disclosure route. Our guide on telling HMRC about unpaid tax on crypto walks through the process.
4. Make sure your platforms have your correct details. This avoids the risk of a penalty and of mismatched data.

HMRC's published penalty rules generally treat an unprompted disclosure more favourably than one made after HMRC has started looking into your affairs, so timing can make a real difference.

Frequently asked questions

Do crypto exchanges report to HMRC?

UK cryptoasset service providers have collected user and transaction data under the Cryptoasset Reporting Framework since 1 January 2026, and must report it to HMRC between 1 January and 31 May 2027 for calendar year 2026, then annually by 31 May. Providers in other CARF countries report locally, and that data can be exchanged with HMRC.

Does Coinbase report to HMRC?

We cannot confirm what any individual platform reports. Historically, HMRC used its information powers to obtain some UK Coinbase customer data for 2019/20, as widely reported in 2020. Under CARF, platforms providing cryptoasset services in the UK must report user and transaction data to HMRC annually from 2027.

What details do I have to give my crypto platform?

For individuals, GOV.UK lists your full name, date of birth, the address and country where you normally live, and your tax identification number. For UK residents this is your National Insurance number or Unique Taxpayer Reference. You should never be asked for, and should never give, your private keys or seed phrase.

What is the £300 crypto penalty?

GOV.UK says that if you give inaccurate details, or do not give details, to a UK cryptoasset service provider, you could get a penalty of up to £300. HMRC's manual indicates it applies where the failure is deliberate or due to a lack of reasonable care. Providers face separate penalties of up to £300 per user.

Will HMRC know about crypto I bought years ago?

CARF reporting covers activity from 1 January 2026 onwards. However, HMRC has obtained information from platforms in the past, and recent data can prompt questions about earlier years. If you have unreported gains or income from previous years, HMRC's disclosure service exists so you can correct them.

Getting your crypto tax position right

HMRC crypto tax reporting is becoming routine, and the simplest way to be ready for it is to make sure your own records and returns are accurate. If you would like help calculating your gains, reviewing an existing crypto tax report or preparing a crypto tax return, you can try our CGT estimator or get in touch for a no-obligation conversation about your situation.