The UK’s tax authority announced that it planned to treat “certain disposals” related to cryptocurrency lending and liquidity pools as transactions that would effectively defer the country’s capital gains requirements.

In a Monday announcement, HM Revenue and Customs (HMRC) said that starting on April 6, 2027, it would adopt a “no gain, no loss” approach to disposals involving crypto loans and liquidity pools. According to the tax authority, this measure would defer capital gains tax on digital assets “until an economic disposal.”

“This measure will support fairness in the tax system,” said the UK tax authority. “It aligns the tax treatment more closely with the economics of these arrangements by ensuring that gains…