According to CryptoSlate, the UK Financial Conduct Authority (FCA) has released draft guidance stating that if crypto applications automatically select trading venues or routes for users by using algorithms to assess prices, liquidity, etc., it will be considered regulated "trading arrangement" and must obtain a license before the new regulations take effect in October 2027. DeFi aggregators that promise "optimal execution" or involve autonomous routing are included in this category, and smart contracts and DAO architectures are not exempt from liability. The deadline for existing UK crypto companies to apply for licenses during the transition period is February 28, 2027. https://www.(wublock123.com)/news/uk-fca-proposes-licensing-for-algo-routing-defi-aggregators-70654