23 Jun INATBA Response to UK Consultation on DeFi Taxation
The International Association for Trusted Blockchain Applications (INATBA) has submitted a high-level response to the HM Revenue and Customs (HMRC) Open Consultation on Decentralized Finance (DeFi) Taxation. To gain valuable insights into this evolving area, we invite you to download the full position paper prepared by INATBA Finance Sub-Working Group 1.
The HMRC’s Open Consultation on DeFi Taxation seeks industry input on the taxation treatment of decentralized finance activities, including the lending and staking of crypto assets. As DeFi grows rapidly and introduces innovative financial services, it is crucial to establish clear guidelines that ensure fair taxation while fostering continued growth and adoption. INATBA’s response to the consultation reflects a thorough analysis of the nuances and complexities of decentralized finance, aiming to strike a balance between tax compliance and the promotion of a supportive regulatory environment for DeFi innovation.
To access INATBA’s complete position on DeFi taxation, crafted in response to the HMRC Open Consultation, we invite you to download the response paper.
We believe that this valuable resource will contribute to the ongoing discussions surrounding the taxation of DeFi activities, facilitating an open and collaborative dialogue between industry stakeholders and regulators.
Please fill out the form below to access the full report:
Launched in 2019 by the European Commission, INATBA – International Association for Trusted Blockchain Applications, is a highly influential Association in advocating for Blockchain and DLT adoption in Europe and globally. INATBA is mainly known for its credibility with regulatory authorities and policymakers and is appraised for its contributions to Markets in Crypto Asset Regulation (MICA), Transfer of Funds Regulation (TFOR), electronic Identification, Authentication and Trust Services (eIDAS), CHAISE Project, EU Pact for Skills, Academic & Governmental Advisory Bodies, and its passionate diverse global community of CEOs, CTOs, Heads of Policy, Public/Institutional Relations, Legal, Marketing & BizDev, Developers, Policymakers.