Part 3/12:
Platforms face strict annual reporting obligations, with penalties up to £300 per user for late or inaccurate submissions. These measures are rooted in the OECD’s Crypto Asset Reporting Framework (CALF), aiming to enhance tax transparency and close loopholes as digital assets move through the ecosystem. Importantly, the UK is extending these requirements to domestic transactions, not just cross-border ones, creating a broad net of oversight.