The UK's HM Revenue and Customs (HMRC) has announced a proposed 'No Gain No Loss' (NGNL) tax treatment for decentralized finance (DeFi) lending and staking activities. This policy, if legislated, will mean that depositing crypto assets into DeFi protocols like Aave will not be treated as a capital gain disposal, significantly easing the tax reporting burden for users. Aave founder Stani Kulechov hailed this development as a major victory for DeFi users, highlighting the Aave team's involvement in the consultation process to ensure the policy accurately reflects the economic realities of on-chain transactions.