UK Scraps Crypto Lending Tax: Capital Gains Deferred Until Sale

The post UK Scraps Crypto Lending Tax: Capital Gains Deferred Until Sale appeared first on Coinpedia Fintech News

The UK tax authority, His Majesty’s Revenue and Customs (HMRC), has officially introduced the “no gains, no loss” (NGNL) rule to reform taxation in decentralized finance (DeFi) protocols. Dubbed the “Tax treatment of cryptoasset loans and liquidity pools,” the legislation overhauls the highly criticized 2022 “dry tax” model, which triggered tax liabilities with every token …