The UK needs a workable route to regulated DeFi access
Summary
Coinbase Europe policy head Katie Harries argues that the UK’s proposed FCA rules could effectively prevent regulated platforms from connecting customers to DeFi protocols. From October 2027, platforms may need to route orders only to FCA-authorized venues, while decentralized exchanges lack an entity that can obtain authorization. Harries says consumer-protection and financial-crime risks should be addressed through disclosures, consent, protocol screening and reporting rather than exclusion. She warns that a de facto ban could push users beyond regulatory visibility and weaken the UK’s competitiveness in tokenized finance. She cites EU and US initiatives as examples of jurisdictions exploring regulated access to DeFi.
