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Reporting Cryptoasset Service Providers (Due Diligence and Reporting Requirements) Regulations, SI 2025/744

These Regulations will require UK businesses which transfer or exchange relevant cryptoassets to perform due diligence and report customer details and relevant transaction data to HMRC.

These Regulations form part of the legislative framework implementing the Organisation of Economic Co-operation and Development’s (OECD) Crypto-Asset Reporting Framework (CARF) in the UK. They require UK businesses that transfer relevant cryptoassets, or exchange relevant cryptoassets for other cryptoassets, fiat currency (government issued currency that is not backed by a physical commodity) or for goods or services on behalf of their customers, to perform due diligence and report customer details and relevant transaction data to HMRC.

The CARF refers to these businesses as reporting cryptoasset service providers. They set out, either directly or by reference to the requirements of the published OECD CARF, the due diligence that needs to be undertaken, the information that businesses will need to collect and report, and the penalties for failing to comply with the requirements.

The Regulations