‘As Chair of the Crypto and Digital Assets APPG in Parliament I welcome the Government’s commitment to look at the UK’s approach to the taxation of crypto and digital assets and to address specific issues like the treatment of DeFi loans and staking. The Treasury’s consultation should hopefully provide further clarity in relation to the taxation of cryptoassets.The UK’s tax rules for crypto can still be confusing for many and there remains a need for further clarity for investors so that they fully understand their tax obligations. Research from HMRC has shown that the majority of investors are still not aware of the tax requirements for crypto in the UK.This consultation is hopefully the first step towards a comprehensive tax framework for crypto which ensures that the UK remains internationally competitive, provides clarity for investors and does not create an unnecessary administrative burden for consumers.’