Does KuCoin Report to HMRC?
UK residents who traded using KuCoin may be surprised at what HMRC already knows. Find out what KuCoin reports to HMRC and what it means for your tax bill.
KuCoin is not currently authorised to operate in the UK according to the FCA, and has largely restricted existing UK accounts from trading. The exchange has not indicated whether it will reapply for an FCA licence ahead of the 2027 deadline.
If you have previously traded and have taxable transactions, you’ll need to report this to HMRC.
Is KuCoin legal in the UK?
No. KuCoin is not authorised to operate legally in the UK.
In October 2023, the UK’s Financial Conduct Authority (FCA) added KuCoin, along with more than 140 other crypto exchanges, to its warning list. The regulator stated that these companies were operating without the necessary authorization to offer financial services to UK customers.
KuCoin has now largely withdrawn services for existing UK customers, including the ability to trade.
Why isn’t KuCoin legal in the UK?
KuCoin is not legal in the UK because it does not comply with regulations set by the FCA about providing financial services. This is likely due to the range of products the platform offers being restricted in the UK market, as well as the failure to comply with KYC legislation in the UK. KuCoin has not confirmed whether it will reapply for an FCA licence in 2026.
Does KuCoin report to HMRC?
Since KuCoin is not authorized to operate in the UK, it's unlikely the platform will be sharing user data with HMRC going forward, but it may face further action from other regulatory bodies.
In contrast, crypto exchanges that are officially registered in the UK must follow anti-money laundering rules and perform full identity verification (KYC). These regulated platforms may be obligated to share user information with HMRC, especially under new frameworks like the OECD’s Crypto-Asset Reporting Framework (CARF), which aims to enhance global tax transparency.
What do crypto exchanges report to HMRC?
Under the OECD Crypto-Asset Reporting Framework (CARF), UK-based crypto platforms will be required to gather and report extensive user information to HMRC. This will include full names, residential addresses, country of residence, wallet details, and a detailed breakdown of transactions—including transfers, disposals, gross proceeds, and the fair market value of crypto assets.
Platforms began collecting this data starting January 2026, with reports for the 2026 tax year due by May 2027. Non-compliance could lead to penalties of up to £300 per user.
As KuCoin is not a registered UK exchange, it is not expected to participate in this reporting framework.
How do I report my KuCoin taxes to HMRC?
UK residents must report any crypto-related gains, losses, or income as part of their self-assessment tax return, which can be submitted online via the Government Gateway portal. If you’ve made transactions on KuCoin that haven’t been reported in previous tax years, you can use HMRC’s crypto asset voluntary disclosure facility to come forward and declare past gains or income.
Because KuCoin doesn’t provide tax documents for UK users, many investors rely on crypto tax calculators like Koinly to calculate their taxable activity and generate the required reports for HMRC.
Report your KuCoin taxes with Koinly
Koinly makes KuCoin tax reporting simple. You can automatically import your transaction history from KuCoin using an API connection or by uploading a CSV file.
Once your data is synced, Koinly calculates your capital gains, losses, income, and other taxable events, then generates the reports you need to file with HMRC. Learn more about how to manage your KuCoin taxes with Koinly.
FAQs
Do I have to pay tax on my KuCoin transactions?
Yes. Any profits from KuCoin transactions are taxable. Learn more in our crypto tax UK guide.
Is KuCoin registered with the FCA?
No. KuCoin is not registered with the FCA. It was added to a warning list that the FCA created regarding digital exchanges operating in the UK without regulatory approval.
How do I avoid KuCoin taxes in the UK?
Avoiding crypto taxes in the UK through illegal means can lead to serious penalties, but there are legal strategies to reduce your tax bill, such as tax loss harvesting.
Platforms like Koinly include tax optimization tools that help you identify opportunities to minimize your liability. For more information, explore our guide on how to legally avoid your crypto taxes in the UK.
