PANews reported on December 6th, citing Yahoo Finance, that Aave founder Stani Kulechov stated that the recent DeFi tax guidance released by HMRC (Her Majesty's Revenue and Customs) may mark a turning point for crypto lending in the UK . The document states that depositing digital assets or stablecoins such as USDC or USDT into DeFi platforms will not be considered a taxable disposal at the time of deposit. In other words, users depositing their cryptocurrency assets into DeFi platforms for lending, staking, or borrowing will not trigger capital gains tax. Capital gains tax is only payable when users actually dispose of their assets (e.g., sell, convert, or otherwise cash out), rather than simply transferring tokens in or out of DeFi protocols. Under the new approach, these regular DeFi transactions fall into the "no gain, no loss" category, providing investors with clearer and more practical tax guidance. Kulechov added that the simplified tax approach reduces the burden, enabling wider adoption by institutions while also simplifying operations for ordinary retail users.PANews reported on December 6th, citing Yahoo Finance, that Aave founder Stani Kulechov stated that the recent DeFi tax guidance released by HMRC (Her Majesty's Revenue and Customs) may mark a turning point for crypto lending in the UK . The document states that depositing digital assets or stablecoins such as USDC or USDT into DeFi platforms will not be considered a taxable disposal at the time of deposit. In other words, users depositing their cryptocurrency assets into DeFi platforms for lending, staking, or borrowing will not trigger capital gains tax. Capital gains tax is only payable when users actually dispose of their assets (e.g., sell, convert, or otherwise cash out), rather than simply transferring tokens in or out of DeFi protocols. Under the new approach, these regular DeFi transactions fall into the "no gain, no loss" category, providing investors with clearer and more practical tax guidance. Kulechov added that the simplified tax approach reduces the burden, enabling wider adoption by institutions while also simplifying operations for ordinary retail users.
Aave founder: New UK tax rules simplify taxation and promote institutional adoption of cryptocurrency.
PANews reported on December 6th, citing Yahoo Finance, that Aave founder Stani Kulechov stated that the recent DeFi tax guidance released by HMRC (Her Majesty's Revenue and Customs) may mark a turning point for crypto lending in the UK . The document states that depositing digital assets or stablecoins such as USDC or USDT into DeFi platforms will not be considered a taxable disposal at the time of deposit. In other words, users depositing their cryptocurrency assets into DeFi platforms for lending, staking, or borrowing will not trigger capital gains tax. Capital gains tax is only payable when users actually dispose of their assets (e.g., sell, convert, or otherwise cash out), rather than simply transferring tokens in or out of DeFi protocols. Under the new approach, these regular DeFi transactions fall into the "no gain, no loss" category, providing investors with clearer and more practical tax guidance. Kulechov added that the simplified tax approach reduces the burden, enabling wider adoption by institutions while also simplifying operations for ordinary retail users.
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