The UK is considering an exemption for stablecoins from capital gains tax and a reform to its tax treatment for lending by companies, under a proposal issued Thursday.
The current tax treatment of stablecoins—cryptocurrencies designed to maintain their value by being tied to a specific asset, such as a fiat currency or gold—could be an administrative burden for individuals and businesses, His Majesty’s Revenue and Customs said in a call for evidence, which is open for public feedback until May 7.
The UK tax authority has proposed treating stablecoins as exempt assets for capital gains tax or removing ...
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