The U.K's tax authorities are looking for public views on a proposed change to the text treatment of decentralized finance (DeFi) lending and staking, according to a Thursday announcement. HM Revenue and Customs' (HMRC) proposal follows the 2022 call for evidence. The authority referred to recent crypto market failures, including the collapse of the FTX exchange, as cause for regulators' intense interest in the sector. Regulators around the world have cast their eyes on DeFi, and policymakers have "highlighted specific risks including cyber risks and other technical risks," HMRC said.
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