The UK Financial Conduct Authority has launched two consultations tied to the country’s crypto rulebook. One focuses on guidance for decentralized finance, or DeFi, firms on complying with anti-money laundering and financial crime requirements. The other covers arrangements to exclude certain cryptoassets from regulation following recent legislative changes. The FCA said the proposed DeFi guidance is meant to clarify existing rules rather than create new policy. Separately, the UK Cryptoasset Business Council said DeFi is one of the most innovative parts of financial services and argued that the UK should set clear and proportionate regulatory boundaries so responsible innovation can remain in the country. The FCA also said applications under the new crypto regulatory regime opened on Sept. 30. Firms seeking approval must complete compliance by Feb. 28, 2027. The regime covers stablecoin custody arrangements and reserve assets, and is expected to take effect from October 2027. Cointelegraph was cited as the source in the original brief.
The UK Financial Conduct Authority, or FCA, has opened two consultations covering decentralized finance compliance guidance and exemptions that would keep certain cryptoassets outside regulation under recent legislative changes.
The first consultation concerns guidance for DeFi firms on meeting anti-money laundering and financial crime rules. The FCA said the proposed guidance is intended to clarify existing requirements, not introduce a new policy framework. The regulator is also seeking feedback on cryptoasset regulatory exemptions.
The UK Cryptoasset Business Council said DeFi is one of the most innovative areas in financial services and that the UK should set clear and proportionate regulatory boundaries to keep responsible innovation developing domestically.
The FCA added that applications under the new crypto regulatory regime opened on Sept. 30. Applicant firms must complete compliance by Feb. 28, 2027. The regime covers stablecoin custody arrangements and reserve assets, and is expected to come into force from October 2027.
The item cited Cointelegraph as the source.
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