UK widens crypto reporting rules to cover domestic transactions

Visa has partnered with Aquanow to expand stablecoin settlement across the CEMEA region, aiming to enhance transaction efficiency and reduce costs associated with cross-border payments. This initiative reflects Visa's ongoing commitment to integrating digital currencies into its operations.

Biometric security is increasingly being integrated into cryptocurrency platforms as they adopt electronic Know Your Customer (eKYC) and liveness detection tools to address the growing threats in the digital landscape. These biometric technologies utilize unique physical characteristics, such as fingerprints, facial features, and voice recognition, to verify identities and enhance security measures.

The UK government has initiated a crackdown on cryptocurrency holdings, requiring exchanges to collect detailed transaction records from UK taxpayers starting January 1, 2026. This move aims to enhance financial transparency and regulatory oversight in the cryptocurrency sector, as reported by the Financial Times.

The UK government has announced that starting in 2026, all cryptocurrency platforms will be required to report transactions involving domestic users. This initiative is part of a broader effort to enhance regulatory oversight of digital assets as global tax authorities tighten their scrutiny of cryptocurrency activities.

The UK government has proposed a 'no gain, no loss' tax framework for decentralized finance (DeFi) transactions, eliminating capital gains taxes on deposits to crypto lending platforms. This initiative aims to align tax regulations with the operational realities of DeFi, marking a significant shift in the regulatory landscape for cryptocurrencies in the UK.