CryptoUK proposes HMRC tax breaks for stablecoins
- —CryptoUK supports exempting qualifying stablecoins from capital gains tax
- —The organization asks HMRC to maintain a clear list of qualifying stablecoins
- —Clarifications requested on complex liquidity positions and unlisted assets
- —Concerns raised over HMRC's broad powers for civil investigations
Why it matters: Tax breaks for stablecoins could reduce compliance costs and accelerate their integration into the UK financial system.
Source: Coinfomania