The UK government has sought advice from investors, professionals and companies on the taxation of decentralized finance (DeFi) activities.
DeFi Step from UK
The UK government said it is seeking input from investors, professionals and companies on the taxation of decentralized finance (DeFi) activities.
According to an announcement made on Tuesday, the government wants to investigate specifically about taxation and staking of crypto-asset loans. The announcement included the following statements:
The government is interested in exploring whether the administrative burdens and costs for taxpayers engaged in this activity can be reduced, and whether the tax treatment can be better aligned with the underlying economy of the transactions involved.
Those who wish to convey their views on the subject must do so by 31 August.
Also, as a reminder, the UK government recently stated that it wants to give the Central Bank more powers to oversee stablecoins after the collapse of the IHR. The UK government stated that it would take additional security measures to prevent any harm to financial stability, and in this context, it wanted to give more power to the central bank.
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