The UK Financial Conduct Authority (FCA) has published two consultation papers defining regulatory boundaries for decentralized finance (DeFi) and cryptoasset activities. The guidance on DeFi (GC26/7) assists regulated firms in meeting operational resilience, financial crime, and anti-money laundering requirements, emphasizing the clarification of existing rules rather than introducing new policies. Simultaneously, the cryptoasset regulatory perimeter guidance (CP26/36) outlines specific exemptions under the upcoming regime. These include temporary settlement arrangements, holding UK-qualified stablecoins for payment transactions, proprietary trading, and technical services providing access to third-party protocols. Both consultations close on November 18, with final guidance expected in January 2027 ahead of the new regulatory framework taking effect on October 25, 2027.