Finance Redefined: UK government explores DeFi with a focus on staking and lending


Welcome to Finance Redefined, your weekly dose of leading decentralized finance (DeFi) insight, a newsletter designed to bring you some of the major developments of the past week.

Last week, the DeFi ecosystem received recognition from the United Kingdom government as they sought public feedback on the taxation of the DeFi ecosystem, specifically staking and lending.


MakerDAO is looking to collaborate with traditional banks, which will happen once the proposal gets community approval. The Aave (AAVE) community is planning to launch a highly collateralized stablecoin called GHO, subject to the approval of the Decentralized Autonomous Organization (DAO). On July 2, a hacker who took advantage of the Solana-based liquidity protocol Crema Finance returned most of the funds, but was allowed to keep $1.6 million as a white-cap reward.