The UK Government today launched its call for evidence on Decentralised Finance (DeFi). Gary Ashford, Tax Partner at Harbottle and Lewis LLP has been assisting HMRC and HMRC Treasury (on behalf of the Chartered Institute of Taxation (CIOT)) to develop and frame some of the key taxation questions, with the view to reducing UK taxation barriers to DeFi, and allowing it to develop in the UK market.

Gary said "DeFi is already growing rapidly and given the UK's historical strength in world financial markets, it is good to see the UK Government embracing technological developments in the financial space, whilst seeking to manage risk for consumers and taxpayers ".