Update
FCA Draft Guidance on Crypto App Licensing
Britain's Financial Conduct Authority (FCA) has published draft guidance stating that crypto trading apps may need regulatory approval if their software selects trading venues or routes based on price, liquidity, costs, or execution speed. The FCA's interpretation could bring decentralized finance (DeFi) aggregators and automated trading interfaces within the UK's licensing regime, potentially requiring operators to obtain permission or change their software handling customer trades.