Aave CEO Welcomes UK 'No Gain, No Loss' Tax Treatment for DeFi Lending

Stani Kulechov, CEO of Aave, welcomed the UK tax authority's consultation outcome on DeFi activities published November 27, 2025. The proposal introduces a 'no gain, no loss' framework for cryptoasset deposits into lending protocols, meaning users would not face capital gains tax when depositing collateral. Kulechov described the approach as a significant benefit for UK DeFi users who borrow stablecoins against crypto holdings.