[UK FCA Releases Two Consultation Papers, Clarifying DeFi and Crypto Regulatory Boundaries] According to an official announcement, the UK Financial Conduct Authority (FCA) has released two consultation papers. Among them, the DeFi Guidance (GC26/7) aims to assist regulated entities using DeFi in meeting requirements related to operational resilience, financial crime, and anti-money laundering. The FCA stated that its intention is to clarify existing rules rather than establish new policies. The Crypto Asset Regulatory Boundary Guidance (CP26/36) outlines exemptions under the new framework, including temporary settlement arrangements, temporary holding of UK-qualified stablecoins for payment transactions, proprietary trading, and technical services that only provide access to third-party services or decentralized protocols. These guidelines are designed to help businesses determine whether FCA authorization is required. Both consultations will close on November 18, and the FCA plans to issue final guidance in January 2027. The new regulatory framework will take effect on October 25, 2027.