UK Launches Crypto Asset Reporting Framework, Expected Tax Revenue Increase of £315 Million
- New Tax Compliance Regulation: The UK government officially launches the Crypto Asset Reporting Framework (CARF), requiring service providers to submit user transaction data by January 2026, aiming to close the tax gap and potentially generate £315 million in tax revenue by 2030.
- User Information Requirements: Crypto exchanges, brokers, and wallet providers must collect user names, addresses, tax residences, and transaction summaries to ensure users meet their tax obligations, thereby enhancing overall tax transparency and compliance.
- Penalty Mechanism: Individuals and service providers failing to comply with the new regulations may face fines of up to £300 per user, underscoring the importance of accurate data submission to avoid financial penalties and ensure tax revenue aligns with expectations.
- Global Standards Alignment: The implementation of CARF aligns with standards set by the OECD, aiming to effectively regulate crypto exchanges, custodians, and broker-dealers, enhancing industry transparency and promoting global compliance.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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