FOUNDER OF AAVE: THE BRITISH TAX AND CUSTOMS ADMINISTRATION WILL HANDLE THE TRANSFER OF ENCRYPTED ASSETS ON A NO-PROFIT BASIS

Stani Kulechov, founder of AAVE, stated that the British Tax and Customs Administration (HMRC) had announced that part of the transfer of assets to individuals and trustees involved in the unencrypted lending of assets and the automatic establishment of a market liquidity pool would be treated on the basis of the “no-gain, no-loss” (NGNL) principle and that the capital gains tax would be deferred until the actual economic disposal occurred。