UK government explores DeFi with a focus on staking and lending

Welcome to Finance Redefined, your weekly dose of key decentralized finance (DeFi) insights, a e-newsletter crafted to convey you a few of the main developments over the past week.

This previous week, the DeFi ecosystem received recognition from the UK authorities, as they sought public suggestions on taxation of the DeFi ecosystem, particularly staking and lending.

MakerDAO is seeking to collaborate with the standard banks, which might happen after the proposal will get group approval. Aave (AAVE) is planning to launch an overcollateralized stablecoin referred to as GHO, topic to the group decentralized autonomous group’s (DAO’s) approval. The hacker who exploited Solana-based liquidity protocol Crema Finance on July 2 returned a lot of the funds however was allowed to maintain $1.6 million as a white hat bounty.