As reported by Insidebitcoins, the UK will require domestic crypto exchanges to report transactions by local residents starting next year. The move expands the scope of the Cryptoasset Reporting Framework (CARF), developed by the OECD, to include domestic activity and aims to prevent crypto from escaping the Common Reporting Standard. The UK also proposed a 'no gains, no loss' tax rule for DeFi activities, deferring capital gains tax until a true economic disposal occurs.
UK Expands Crypto Tax Reporting Rules to Domestic Transactions
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