According to Wu Blockchain, Aave's Chief Legal Officer Linda Jeng posted that Aave has submitted a response to the UK Financial Conduct Authority (FCA) regarding its guidance on crypto asset regulation boundaries. Participants include two UK entities regulated by the FCA: Push Labs Ltd and Push Virtual Assets Ltd. Aave argues that DeFi protocols are open, permissionless, rules-based, and non-discretionary infrastructure, and protocol developers should not be considered financial intermediaries. The FCA's proposed 'added value' concept lacks legal basis. Aave suggests excluding non-discretionary infrastructure from intermediary regulation through amendments without altering the underlying legislation, to prevent the UK from becoming an 'island' isolated from global financial development. https://(wublock123.com)/news/aave-responds-to-uk-fca-crypto-guidance-defi-not-a-financial-intermediary-62344