TechFlow, November 27 — The UK's HM Revenue and Customs (HMRC) has recently released the results of its DeFi tax consultation, clarifying that depositing crypto assets on platforms like Aave does not constitute a disposal event for capital gains tax purposes, adopting a "no gain, no loss" (NGNL) approach. This policy is a significant boost for UK users wishing to use cryptocurrency as collateral to borrow stablecoins. Stani Kulechov, founder of Aave Labs, said his team actively participated in the consultation to ensure tax treatment reflects economic reality.
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