Stani Kulechov, founder of Aave, said that the recent release of DeFi tax guidance by HM Revenue and Customs (HMRC) could mark a turning point for crypto lending in the UK.
The filing states that depositing digital assets or stablecoins such as USDC or USDT into the DeFi platform will not be considered taxable disposal at the time of deposit. In other words, users depositing their cryptocurrency assets into the DeFi platform for borrowing, pledging 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 just transferring tokens into or out of the DeFi protocol.
Under the new approach, these routine DeFi transactions fall under the "no gain, no loss" category, thus providing investors with clearer and more practical tax guidance. Kulechov added that the tax approach is simplified, reducing the burden and 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 cryptocurrencies
2025-12-06 07:29:13
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