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UK Treasury opens tax policy consultation on DeFi staking and lending
source link: https://fintechranking.com/2023/04/27/uk-treasury-opens-tax-policy-consultation-on-defi-staking-and-lending/
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UK Treasury opens tax policy consultation on DeFi staking and lending
HM Treasury, the UK’s finance ministry, said Thursday that it has opened a consultation on possible new tax regulations for decentralized finance activities.
In particular, the Treasury is focused on lending and staking — two key activities in the DeFi ecosystem. The Treasury said it wants to “create a regime that better aligns…with the underlying economic substance, whilst reducing the administrative burden on users,” the Treasury said in its announcement.”
Read more: The Block
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