Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether she has considered introducing legislation to adopt a composite no gain, no loss framework to align the tax treatment of crypto-asset lending and staking with traditional financial instruments; and what progress HMRC has made on its consultation on the taxation of decentralised finance transactions.

The government has engaged in detail with industry on the tax treatment for the lending and staking of cryptoassets, following the previous consultation on this issue. The government will be responding to the industry in due course.