DeFi Access May Face De Facto Blocking, Coinbase Calls on UK FCA to Adjust Rules

Odaily reports: Katie Harries, Head of European Policy at Coinbase, wrote that the UK Financial Conduct Authority (FCA)'s proposed cryptoasset regulatory rules may require regulated platforms to execute client orders only on FCA-authorized trading venues, thereby restricting users from accessing decentralized finance (DeFi) protocols through compliant platforms. Since decentralized protocols typically have no entity that can apply for regulatory authorization, the relevant rules may prevent regulated platforms from offering DeFi access services, creating a de facto ban; the related crypto regulatory regime is expected to take effect from October 25, 2027.