Why The UK Opened A Consultation On Crypto, DeFi, And Staking Taxation

Why The UK Opened A Consultation On Crypto, DeFi, And Staking Taxation

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Why The UK Opened A Consultation On Crypto, DeFi, And Staking Taxation

Bitcoinist.coma month ago
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Published on July 05, 2022 15:17 GMT+00:00edited on July 06, 2022 16:24 GMT+00:00

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The U.K. HM Revenue & Customs (HMRC) agency opened a consultation on the state of crypto taxation, specifically for decentralized finances (DeFi). This call for evidence will have an 8-week duration from today July 5th until August 31st, 2022 and could result in significant changes to the DeFi tax structure.

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The consultation follows an announcement from the government agency on their “next steps for the government’s FinTech Sector Strategy”. This initiative aims at providing more regulatory clarity around crypto and new technologies to “place the UK at the forefront of” financial innovation.

The government agency claims there are stakeholders and investors that asked to review “issues” …