The UK tax authority has proposed legislative changes to tax DeFi lending and staking

ChainCatcher news, the UK HM Revenue and Customs (HMRC) is seeking public opinion on proposed changes to the tax treatment of decentralized finance (DeFi) lending and staking, with the consultation open for eight weeks, ending on June 22. The purpose of the consultation is to establish a system that better aligns the taxation of crypto assets used in DeFi lending and staking transactions with the underlying economic substance, while also reducing the administrative burden on users. According to the proposed changes, the use of crypto assets in DeFi transactions will no longer be considered a disposal for tax purposes. Instead, tax disposals will occur when crypto assets are disposed of economically in non-DeFi transactions. (Source link)