The official website of the UK Revenue and Customs (HMRC) stated that it is soliciting public opinions on the proposed changes to the tax treatment of decentralized finance (DeFi) lending and staking. The consultation is open for eight weeks and ends on June 22. The purpose of the consultation is to establish a system that better aligns the taxation of crypto assets used in DeFi lending and staking transactions with the underlying economic substance, while reducing the administrative burden on users. Under the proposed changes, the use of crypto assets in DeFi transactions will no longer be considered a disposal for tax purposes. Instead, when crypto assets are disposed of economically in non-DeFi transactions, a tax disposal occurs.