According to @AltcoinGordon, the UK government will require all crypto firms to report comprehensive details of every crypto transaction by 2026, including sender and recipient names, addresses, tax IDs, token type, quantity, GBP value, and timestamp. Non-compliance may result in fines of up to £300 per user. This regulatory move introduces significant compliance costs and operational challenges for crypto exchanges and wallet providers, potentially impacting trading volumes and market participation in the UK crypto sector (Source: Twitter/@AltcoinGordon, May 18, 2025).