On 21 October 2026, the Financial Conduct Authority (FCA) issued Guidance Consultation 26/7: Decentralised finance guidance (GC26/7).
Background
The FCA is aware that firms are increasingly using decentralised finance (DeFi) to provide financial services. It is now consulting on non-Handbook guidance to help firms understand how existing operational resilience and financial crime requirements may apply when they provide financial services using DeFi. It also provides observations on the current risk landscape and illustrative examples of measures firms may wish to consider when designing or enhancing their systems and controls. The examples (including risk management and emerging industry compliance practices) are not exhaustive and may not be appropriate in every case.
The draft guidance is primarily intended for FCA-authorised firms that use or interact with DeFi as part of their regulated activities, including firms carrying on future regulated cryptoasset activities. It will also be relevant to firms seeking authorisation and may be useful to other firms that use or interact with DeFi, including firms engaging with tokenised assets.
The draft guidance should be read alongside Consultation Paper 26/36 and Policy Statement 26/18, which provide further information on decentralisation, the scope of regulated cryptoasset activities and
when authorisation may be required.
Next steps
The deadline for comments on GC26/7 is 18 November 2026.
The FCA plans to publish the final guidance in January 2027.