UK financial watchdog opens consultations for DeFi guidance, crypto laws
The UK Financial Conduct Authority consultations came just weeks after the agency opened applications for companies under its new crypto regulatory regime.
The UK’s Financial Conduct Authority (FCA) announced two consultation periods for how companies using decentralized finance can comply with its guidance, and exclusions for certain crypto assets following “recent legislative changes.”
In a Wednesday notice, the FCA opened consultation periods for helping DeFi companies comply with the financial watchdog’s rules on money laundering and financial crime. The agency also announced a consultation for “exclusions from cryptoasset regulation,” citing recent legislation in the country.
Regarding DeFi, the FCA said that the proposed guidance “seeks to clarify existing rules rather than establish new policy.”
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