UK Considers Taxing DeFi Differently
Update: 2025-11-27
Description
HMRC Proposes No Gain, No Loss Tax Model for UK DeFi Users: A Major Win for Aaves Stani KulechovThe UK government is considering a new tax model for decentralized finance (DeFi) activities, proposed by Her Majestys Revenue and Customs (HMRC). This no gain, no loss approach would delay capital gains tax until users actually sell or trade their crypto for a profit or loss. Aave CEO Stani Kulechov supports this move, hoping it will simplify tax rules and better reflect the economic reality of the crypto space. However, the proposal is still under consultation, and concerns remain about potential transaction reporting burdens. HMRC has not yet provided a timeline for these changes.
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