The UK's Financial Conduct Authority published CP26/13, consulting on perimeter guidance for five regulated crypto activities: stablecoin issuance, trading platforms, dealing and arranging, safeguarding, and staking. Consultation closes June 3, with applications opening September 30 and full regulation going live October 2027. Crypto currently operates largely unregulated in the UK outside of financial promotions and AML rules, so this marks the first comprehensive framework. The FCA also flagged future consultations on DeFi regulation and operational resilience for DLT firms.

TLDR by @Benthic

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