UK HMRC adopts no-gain no-loss tax treatment for crypto lending and liquidity pools

The UK's HMRC has adopted a "no gain, no loss" tax treatment for certain crypto lending transactions and liquidity pool operations, meaning capital gains tax (CGT) is deferred until the point of actual economic disposal of the assets. The change is significant for DeFi investors operating in the UK market and brings greater clarity to the taxation of digital asset lending.