Key takeaways
- Since 1 January 2026, crypto-asset service providers in the EU and the UK have been collecting data on their customers' transactions, including stablecoins, to report to tax authorities. First reports cover 2026 and go in during 2027.
- Companies are covered, not only individuals. Expect your exchange or provider to ask for a self-certification of your company's tax residence and tax identification number, and in some cases details of the people who control it.
- 77 jurisdictions have committed to the OECD's Crypto-Asset Reporting Framework: 46 starting exchanges by 2027, including the UK and EU countries, 27 by 2028, including Canada, Switzerland, Singapore, Hong Kong and the UAE, and 4 by 2029, including the US.
- The reporting doesn't change what tax you owe. It means tax authorities will see the transactions, so your own records should match what your providers report.
The short answer
Two sets of rules make crypto providers report their customers' transactions to tax authorities: the OECD's Crypto-Asset Reporting Framework (CARF), and the EU's version of it, DAC8. In the EU and the UK, providers have collected the data since 1 January 2026 and send their first reports in 2027. Stablecoins are included, and so are companies.
For a business, the practical effects are three: your provider will ask you to certify your tax residence and tax number, your transactions will reach your tax authority, and your books should be able to explain them. The rules add reporting; they don't create a new tax.
What DAC8 and CARF require
Who reports. Reporting crypto-asset service providers: exchanges, brokers and other businesses that carry out exchanges of crypto-assets for customers. They report to their own tax authority, which shares the data with the tax authorities of the countries where the customers are resident.
What's covered. Exchanges between crypto-assets and fiat, exchanges between crypto-assets, and transfers. Under DAC8, the European Commission says the scope builds on MiCA's definitions and includes "stablecoins, including e-money tokens". The OECD framework also covers certain large retail payments made in crypto through a provider, above 50,000 US dollars.
What's reported, for each crypto-asset: the aggregate gross amount paid or received for acquisitions and disposals against fiat or other crypto-assets, and the aggregate fair market value of transfers, along with identifying details of the customer and the provider.
Who is a customer. Individuals and entities. For an entity, providers collect a self-certification of tax residence and tax identification number, and for certain entities, details of the people who control them.
The timeline
| European Union (DAC8) | United Kingdom (CARF) | |
|---|---|---|
| Rules apply | 1 January 2026, after member states transposed DAC8 by 31 December 2025 | 1 January 2026, under the Reporting Cryptoasset Service Providers Regulations 2025 |
| Providers' due diligence | From 1 January 2026 | From 1 January 2026 |
| First report (2026 data) | Set by each member state | Between 1 January and 31 May 2027 |
| First exchange between countries | By 30 September 2027 | 2027 |
The UK also reports on UK-resident users to HMRC itself, not only on users resident elsewhere.
Who has signed up
As of 14 September 2026, the OECD's Global Forum listed 77 jurisdictions committed to CARF:
- First exchanges by 2027 (46): including the UK, EU countries such as Germany, France, Ireland, Italy, the Netherlands and Spain, plus Brazil, Japan, Korea, the Cayman Islands and South Africa
- By 2028 (27): including Australia, Canada, Hong Kong, Singapore, Switzerland, the UAE and Nigeria
- By 2029 (4): Argentina, Azerbaijan, Mexico and the United States
India, Viet Nam, Georgia and El Salvador were listed as relevant but not yet committed.
What it means for your company
- Expect a self-certification request from each exchange or crypto provider you use, asking for your company's tax residence and tax identification number. HMRC says a user who doesn't give a provider the required information may face a penalty.
- Use the same details everywhere. Your company's legal name, address and tax number should match across providers, your bank and your tax filings.
- Reconcile what providers will report. Keep a ledger of stablecoin received, converted and paid, with dates, amounts in your reporting currency, and transaction hashes. Your tax authority will see the providers' figures; your accounts should explain them.
- Check stablecoin flows through several providers. Each reports what it handled, so moving the same funds through three providers creates three sets of records.
- Talk to your tax adviser about how your jurisdiction taxes stablecoin conversions, which DAC8 and CARF don't change.
How this works with Align
Align asks for your company's details and documents at onboarding, through its KYB review, and keeps a record of every payment in and out of your account, which you can use for your own reconciliation. Align Payments Ltd. is registered with FINTRAC in Canada as a money services business. Canada is among the jurisdictions committed to begin CARF exchanges by 2028. This guide is general information, not tax advice.
Sources
- European Commission, DAC8: crypto-asset reporting (accessed November 2026)
- Council Directive (EU) 2023/2226, DAC8 (October 2023)
- OECD, International Standards for Automatic Exchange of Information in Tax Matters: Crypto-Asset Reporting Framework and 2023 update to the Common Reporting Standard (June 2023)
- OECD Global Forum, Jurisdictions committed to implement the CARF (last updated 14 September 2026)
- HMRC, Check if you need to report cryptoasset data to HMRC and Cryptoassets manual, CRYPTO49000 (accessed November 2026)
- UK legislation, The Reporting Cryptoasset Service Providers (Due Diligence and Reporting Requirements) Regulations 2025
- HMRC, Cryptoasset Reporting Framework: reporting of UK resident cryptoasset users
- PwC, A significant milestone: global implementation of the CARF
Common questions
- Do stablecoins count under DAC8?
- Yes. The European Commission says DAC8's scope builds on MiCA's definition of crypto-assets and covers stablecoins, including e-money tokens. So USDC, EURC and USDT held or exchanged through a reporting provider are in scope.
- What will my provider ask my company for?
- A self-certification: your company's legal name, address, jurisdiction of tax residence and tax identification number. Under the OECD's framework, providers must also identify the people who control certain entities, such as passive investment companies. Under UK rules, a user who doesn't give the required information may face a penalty.
- When are the first reports due?
- Each country sets its own deadline for providers. In the UK, providers report 2026 data to HMRC between 1 January and 31 May 2027. In the EU, member states must exchange the 2026 data with each other by 30 September 2027.
- Does the US take part?
- The US has committed to begin CARF exchanges by 2029. Separately, US brokers report digital asset transactions to the IRS on Form 1099-DA.
This guide is general information, not legal, tax or financial advice. Rules and providers' terms change; check the sources linked above and take advice on your own situation.