Crypto tax FAQ
Understanding your tax obligations is an important part of managing your digital asset portfolio. Below are answers to frequently asked questions regarding cryptocurrency tax requirements, reporting, and documentation on our platform.
To comply with global financial transparency standards, our cryptocurrency service adheres strictly to CRS (Common Reporting Standard) and CARF (Crypto-Asset Reporting Framework) regulations.
Because these guidelines require specific international tax declarations, the onboarding process contains steps to ensure your account meets these standards before any trading activity can begin.
When setting up your crypto account, you must complete a digital tax certification agreement. As part of this process, you are required to provide: Your Place of Birth (both Country and City). Your primary National Insurance Number (NIN) or Tax Identification Number(s) (TIN).
While your primary National Insurance Number was collected during your initial brokerage sign-up to satisfy standard requirements, CARF compliance mandates that you explicitly certify any additional global tax responsibilities where you are obligated to pay taxes.
The Common Reporting Standard (CRS) and the Crypto-Asset Reporting Framework (CARF) are global tax transparency initiatives developed by the Organization for Economic Cooperation and Development (OECD) aimed at enhancing the automatic exchange of financial information. CRS was originally implemented in 2016 covering traditional financial accounts and securities, but recently expanded to encompass digital finance and assets. CARF is being introduced for 2026 to specifically address the information reporting needs resulting from the rise of crypto-assets.
On an annual basis, BSUK is required to share both customer and account information to the governing tax authority in the UK.
For CARF purposes, all customer information collected in the tax certification process will be shared. For CARF, transaction level reporting for annual account activity will be shared.
Depending on your tax residency, the HMRC [or UK tax authority] may share this information with the tax authorities in other jurisdictions applicable to you.
Based on the activity in your account, you may be subject to reporting for CARF. An example of CARF reporting would be the buy or sell transactions for a given crypto, such as Bitcoin. Starting with the 2026 tax year, CARF reporting will be required.
To update your legal name or correct the spelling, send a request to us with the following information:
We will send you a form to sign to confirm the request. After we get a request with the required information, we will update your name in our system. We may also request additional information.
No. Monthly account statements for crypto activity are not generated. However, your transaction history remains fully accessible in the app at all times.
You can download a record of all your crypto transactions directly from the app.
This download will generate a spreadsheet detailing execution timestamps, asset types, directions (buys/sells), transaction amounts, and any applicable zero-fee confirmations required for your personal local tax filings.
No. Realized Profit and Loss (P&L) tracking, cost-basis optimization, and localized tax-lot calculators are not integrated into the platform. You're responsible for calculating your own capital gains or losses, either by using your downloadable CSV transaction history or by consulting a qualified tax professional.