Aave founder Stani Kulechov stated that the recent DeFi tax guidance issued by the UK’s HM Revenue and Customs (HMRC) may mark a turning point for crypto lending in the UK.

The document points out 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 required when users actually dispose of their assets (for example, selling, converting, or otherwise cashing out), rather than merely transferring tokens into or out of DeFi protocols.

According to the new approach, these routine DeFi transactions fall under the category of “no gain, no loss,” thereby providing investors with clearer and more practical tax guidance. Kulechov added that the simplified tax method reduces the burden, enabling broader adoption by institutions, while also simplifying operations for ordinary retail users.