As per the United Kingdom government, in an effort to improve crypto tax reporting, the United Kingdom crypto companies will need to collect and report data from every customer trade and transfer beginning Jan. 1, 2026.
In a statement on May 14, the UK Revenue and Customs department said that all information of the user included like full name, home address and tax identification number will need to be collected and reported for every transaction, including the cryptocurrency used and the amount moved.
Other details including that of companies, trusts and charities transacting on crypto platforms will also need to be reported.
Penalties can be charged for up to 300 British pounds ($398.4) per user if failure to comply or an inaccurate report is found. For compliance readiness, the UK authorities are encouraging crypto firms to start collecting data now to ensure compliance readiness.
French crypto entrepreneurs to receive extra security amid recent kidnappings: Report
In France, the crypto entrepreneurs and their families will receive more enhanced security measures as a result of a recent rise in crypto-related kidnappings in the country, Politico reported.
The measures include priority access to police emergency lines, home security assessments, and safety briefings from French law enforcement, according to the May 16 report.
This was introduced as a part of the broader effort to counter the recent wave of attacks.
France’s Interior Minister Bruno Retailleau said, "These repeated kidnappings of professionals in the crypto sector will be fought with specific tools, both immediate and short-term, to prevent, dissuade and hinder in order to protect the industry.”
Law enforcement officers will also undergo "anti-crypto asset laundering training,” Retailleau noted.
Dubai regulator sets compliance deadline for updated crypto rules
June 19 has been given as a deadline to Dubai’s crypto regulator to get licensed digital asset companies with its updated activity-based Rulebooks to enhance market integrity and risk oversight.
Dubai’s Virtual Assets Regulatory Authority (VARA) announced on May 19 that it had released Version 2.0 of the Rulebooks.
As per Cointelegraph, the regulator said it had strengthened controls around margin trading and token distribution services, harmonised compliance requirements across all licensed activities and given clearer definitions for collateral wallet arrangements.
“In line with global regulatory best practices, a 30-day transition period has been granted to all impacted virtual asset service providers [VASPs], with full compliance required by 19 June 2025,” VARA wrote.
