The UK Financial Conduct Authority has launched two consultations on regulating decentralized finance and crypto assets. They are intended to clarify which activities will require FCA authorization before the full regime comes into force in October 2027. Market participants have until November 18 to submit responses, including on platforms, dealing, safeguarding, staking, and stablecoin issuance. The FCA says that automation, smart contracts, or distributed ledgers do not automatically exempt activities from authorization, which will depend on the functions performed and the specific arrangements involved. The consultations should clarify the framework for crypto businesses operating in the UK and may influence market sentiment, particularly regarding XRP.
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