Aave founder: UK HM Revenue and Customs treats DeFi deposits as "no returns, no losses" incident

Odaily Planet Daily reports that Aave founder Stani.eth posted on the X platform that the UK's HM Revenue and Customs (HMRC) has released the results of its consultation on the taxation of DeFi lending and staking activities. One conclusion is that when users deposit assets into Aave, the deposit itself is not considered an asset disposal under capital gains tax, thus forming a "no gain, no loss" (NGNL) treatment. This is a significant benefit for UK DeFi users who wish to borrow stablecoins using crypto collateral. Aave Labs participated in this consultation.