The UK could be a hotspot for DeFi. Here's why.
After nearly two weeks of bearish dominance, the top 100 DeFi tokens finally started to trade in the green. The majority of the DeFi tokens registered double-digit weekly gains.The government of the United Kingdom is asking the public for input on the taxation of crypto-asset loans and staking in the context of DeFi.
In particular, the government is interested in gathering information on the taxation of crypto-asset loans and staking. Her Majesty’s Revenue and Customs call for evidence paper, published on Tuesday, described its intention to study whether administrative hassles and costs may be reduced for taxpayers who participate in the emerging industry, as well as whether the tax treatment might be more aligned with the transactions’ fundamental economics.
According to the governance proposal shared on Thursday, GHO would be an Ethereum-based and decentralized stablecoin pegged to the United States dollar that could be collateralized with multiple assets of the user’s choice.MakerDAO is voting on a proposal that will bring a traditional bank into its ecosystem for the first time, allowing the bank to borrow against its assets using DeFi.
At the end of voting on Thursday, 87.1 % of voters were in favor of the proposal. The proposal involves creating a vault with 100 million Dai (
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