[Aave Founder Says UK Considers DeFi Deposits as 'No Gain No Loss'] Aave founder and CEO Stani.eth stated that the UK’s HM Revenue & Customs (HMRC) has released the consultation results on the taxation of DeFi activities. It indicates that when users deposit assets into Aave, the deposits are not considered a disposal for capital gains tax purposes, adopting a 'No Gain No Loss' (NGNL) approach. This is a significant development for UK DeFi users who use cryptocurrency as collateral to borrow stablecoins. Stani.eth mentioned that the Aave Labs team participated in this consultation and supports this tax treatment, hoping that the relevant changes will be incorporated into UK tax law soon.