Koinly

🇬🇧 HMRC has new draft legislation for DeFi investors — and it's surprisingly good news from a tax office.  The two separate proposals address the tax treatment of crypto loans & liquidity pools and stablecoins. For loans & liquidity pools, the proposal would treat specific disposals that previously triggered capital gains tax as ‘no gain, no loss’, meaning tax would be deferred until there’s an economic disposal of the asset. 👉 See the proposed policy paper: https://t.co/SGStN7mYyd For stablecoins, the proposal would exempt eligible stablecoin transactions from capital gains tax treatment to reduce the administrative burden on investors. 👉 See the proposed policy paper: https://t.co/xV5qVkBIOt Nothing's finalised yet, but it's encouraging to see HMRC acknowledging that the current tax rules can create tax events where there's been no real disposal, and unnecessary reporting for assets that function more like cash than investments. WDYT? 👀