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Crypto firms and MPs join forces to lobby against DeFi tax

CryptoUK and a parliamentary group are calling for a change in the rules amid fears digital asset businesses could leave the UK

The crypto industry and MPs are raising concerns over decentralised finance platforms
The crypto industry and MPs are raising concerns over decentralised finance platforms Photo: Getty Images

The UK’s crypto industry has banded together with a cross-party group of MPs to raise concerns over how authorities plan to tax decentralised finance platforms.

Trade body CryptoUK said in a 10 February note to members that it is in the process of responding to HMRC and the Treasury following updated guidance on how lending and staking on DeFi platforms is taxed.

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