Does Coinbase Report to HMRC?

Have you used Coinbase in the UK? HMRC may already know, as Coinbase shares transaction details. Learn what Coinbase shares with HMRC and what it means for you.

Is Coinbase legal in the UK?

Yes, Coinbase is legally authorized to operate in the UK. In February 2025, Coinbase obtained registration as a Virtual Asset Service Provider (VASP) from the UK's Financial Conduct Authority (FCA).

This registration permits Coinbase to offer both cryptocurrency and fiat services to retail and institutional customers across the UK, solidifying its position as the largest registered UK crypto exchange, following Binance’s withdrawal from the UK market.

Prior to this, Coinbase's UK subsidiary, CB Payments Ltd., was authorized by the FCA as an electronic money institution, providing fiat services since 2018. The new VASP registration expands Coinbase's capabilities, allowing it to directly offer crypto services within the UK.

Does Coinbase report to HMRC?

Yes. Coinbase has shared information with HMRC about users who have a UK address and received more than £5,000 worth of crypto. The exchange notified UK users about this in 2021.

As well as this, since CARF (OECD Crypto Asset Reporting Framework) was introduced in January 2026, Coinbase now has to collect and share additional user data with HMRC.

What does Coinbase report to HMRC?

The new CARF reporting requirements mandate that all crypto exchanges in the UK must collect and share customer data with HMRC, including:

• Full name

• Address

• Country of residence

• Wallet address

• Crypto transactions, including transfers, disposals, gross proceeds, and fair market values of assets

Exchanges began collecting this data in January 2026 and must report data for the 2026 calendar year by May 2027 at the latest. Failure to comply with these new requirements will result in fines of up to £300 per user.

What does HMRC do with the information Coinbase provides?

HMRC previously used information provided by Coinbase to issue warning letters to taxpayers it believes have failed to report their transactions accurately and pay any tax due.

HMRC may also be using this information to initiate audits of individuals it suspects have not reported their crypto investments, in an effort to recover unpaid taxes.

How do I report my Coinbase taxes to HMRC?

UK-based Coinbase users are required to report any crypto gains, losses, or income on their self-assessment tax return, which can be submitted online through the Government Gateway.

While Coinbase doesn’t supply UK-specific tax forms, a crypto tax calculator like Koinly can help simplify the process by generating the necessary tax reports.

Report your Coinbase taxes with Koinly

Koinly simplifies UK crypto taxes. You can automatically sync your Coinbase transactions by connecting via SSO or uploading a CSV file.

Once your data is imported, Koinly calculates your gains, losses, income, and more, then generates the tax reports you need to file with HMRC. Learn how to generate your Coinbase tax documents with Koinly.