KYC and identity checks when buying crypto in the UK
Quick answer: FCA-registered crypto firms must verify your identity with photo ID and often proof of address before you trade. From January 2026, many must also collect your National Insurance number or UTR for HMRC under CARF. Refusing can block your account or lead to a penalty.
Know Your Customer (KYC) checks are required by UK law before you can buy crypto on a registered platform. They feel intrusive but are standard — like opening a bank account.
Why exchanges ask for ID
The Money Laundering Regulations require crypto firms to identify customers and monitor transactions. This reduces fraud, money laundering and terrorist financing. Every major FCA-registered UK platform runs KYC before you can deposit pounds or withdraw crypto.
What you typically need
Photo ID (passport or driving licence), a selfie or video match, and sometimes proof of address (utility bill or bank statement). Details must match your bank account name for withdrawals.
Enhanced checks for larger amounts
Higher limits or unusual activity may trigger source-of-funds questions — where your money came from. This is normal compliance, not necessarily suspicion of wrongdoing.
CARF and tax details from 2026
From 1 January 2026, in-scope UK crypto service providers must collect information for HMRC’s Cryptoasset Reporting Framework, including tax residence and National Insurance number or Unique Taxpayer Reference where applicable. Failure to provide accurate details can result in an administrative penalty of up to £300.
Protect yourself from fake KYC requests
Only upload documents through the official app or website you verified on the FCA register. Scammers impersonate exchanges and ask for ID via email or WhatsApp to steal your identity. Real firms never ask for your seed phrase.
Frequently asked questions
Can I buy crypto without ID in the UK?+
FCA-registered firms cannot serve you without KYC. Peer-to-peer or unregistered platforms carry higher scam and legal risk.