Understanding the UK's Crypto Asset Reporting Framework (CARF): A New Tax Reporting Regime

The UK is implementing a new tax reporting regime specifically for digital assets, known as the Crypto Asset Reporting Framework (CARF). This framework isn’t about new taxes, but about how existing tax rules apply to digital assets and ensuring HMRC (Her Majesty’s Revenue and Customs) has the information it needs to enforce those rules. It's a significant development that impacts both individuals and businesses dealing with digital assets.