Original sourceCryptoSlate
Summary
The UK Financial Conduct Authority (FCA) is considering that if a crypto app's algorithm selects trading venues or execution routes for clients, this may constitute a regulated activity under the licensing regime starting in 2027. Draft guidance indicates DeFi aggregators and automated trading inte…
Key points
- Teams operating aggregators or automatic routing features in the UK need to re-examine whether their products constitute a regulated activity.
- Whether routing algorithms count as a regulated activity will determine whether many DeFi front ends must apply for licenses or rewrite product logic.
- UK-market aggregators and trading interfaces deemed to have discretion may face licensing costs or be forced to adjust routing designs.
Editorial note
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