UK Treasury seeks input on taxing DeFi staking and lending: Finance Redefined
The UK Treasury is seeking input on taxing the DeFi space, and on provisions around staking and lending. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The taxation arm of His Majesty’s Treasury in the United Kingdom has proposed new regulatory changes to simplify how DeFi returns are taxed and reduce the “administrative burden” for taxpayers. A DeFi options protocol has raised $17 million for a buy-side marketplace and an expanded number of listed tokens. USD Coin (USDC) issuer Circle launched a cross-chain USDC transfer protocol between Ethereum and Avalanche. Ordinals Finance, an Ethereum-based DeFi protocol, allegedly rug-pulled its users for over a million dollars and erased its presence from all social media platforms as news about the same broke out. The top 100 DeFi tokens by market capitalization had another mixed week in terms of price ...