uk

The UK's Financial Conduct Authority (FCA) has launched two parallel consultations aimed at seeking industry input on the applicability boundaries of DeFi and its upcoming regulatory framework for crypto assets. Both consultations will close on November 18, 2026; the FCA plans to publish final guidance in January 2027 after reviewing feedback from various parties.The first consultation primarily targets FCA-regulated firms that use DeFi protocols or facilitate access to DeFi protocols. The guidance is not intended to introduce a new rulebook but aims to clarify how existing regulatory requirements should apply when firms provide services through highly automated, distributed ledger-based systems. The second consultation explores the scope of crypto asset regulation in the context of recent legislative changes (i.e., the "regulatory boundary").

According to The Wall Street Journal, U.S. President Trump once called SpaceX CEO Elon Musk, requesting him to lift the restrictions on the Starlink in Ukraine.

According to Cointelegraph, Coinbase's European policy director Katie Harries wrote that the proposed cryptocurrency asset regulatory rules by the UK's Financial Conduct Authority (FCA) may require regulated platforms to execute customer orders only on trading venues authorized by the FCA, thereby restricting users' access to decentralized finance (DeFi) protocols through compliant platforms.Since decentralized protocols typically do not have entities that can apply for regulatory authorization, the relevant rules may lead to regulated platforms being unable to provide DeFi access services, effectively creating a ban. The related cryptocurrency regulatory system is expected to be implemented starting October 25, 2027.

Ukrainian President Zelensky stated that Russia has agreed to hold a new round of trilateral talks between the U.S., Ukraine, and Russia. The U.S. proposed to initiate the talks as soon as possible, which Ukraine supports, and the meeting may take place in early November or even earlier. Zelensky supports several peace initiatives but remains cautious about the prospects of the talks.

On October 21, the UK's Financial Conduct Authority (FCA) published Consultation Paper 26/36 titled "Guidance on the Regulatory Scope of Cryptoassets," which explains how to determine whether related activities require authorization when the business model involves a certain degree of decentralization.The FCA pointed out that the use of software, smart contracts, distributed ledger technology, distributed governance mechanisms, or other technological arrangements does not, by itself, determine whether there are regulated activities that require authorization. Automation merely describes the manner in which functions are executed and does not determine whether that function constitutes part of a regulated activity. The so-called "true DeFi" is not a statutory concept in the "Regulated Activities Order" or the "Cryptoasset Regulations"; the degree of decentralization is a continuum and does not constitute an independent or separate regulatory framework.At the same time, the FCA also published Guidance Consultation Paper 26/7, which explains how regulated firms should manage DeFi risks, focusing on operational resilience and financial crime risks, and provides examples of measures that firms may consider taking. Both consultation papers will close for comments on November 18, and the FCA plans to publish the final guidance in January 2027. Starting from October 25, 2027, the new regulations will bring new cryptoasset activities under regulatory oversight, and firms wishing to continue related business must submit authorization applications by February 28, 2027.

The Kremlin stated that Russian President Putin has in principle agreed to resume trilateral peace talks between Russia, Ukraine, and the United States around November 10, potentially to be held in Abu Dhabi.Putin held a three-hour meeting with U.S. envoy Whitaker in St. Petersburg to discuss plans to end the Russia-Ukraine conflict.

According to Decrypt, the crypto advocacy organization Stand With Crypto stated that within 90 days from May to August 2026, UK bank customers submitted a total of 10,092 complaints through the organization's online tools, involving 9,803 individuals. The related complaints pertain to transfers being blocked or restricted to crypto platforms registered with the UK's Financial Conduct Authority (FCA).Statistics by bank show that Lloyds Banking Group received 2,297 complaints, accounting for over 22%, and the bank has not disclosed its policy on restricting crypto transfers. Barclays Bank received 1,569 complaints, National Westminster Group received 1,278, and HSBC UK received over 1,000.Stand With Crypto calls on banks to replace blanket restrictions with risk-based case-by-case reviews and urges the FCA and the UK Treasury to publicly state that a complete industry blockade and hard transfer limits on registered or authorized crypto companies are difficult to justify solely on the grounds of anti-fraud or financial crime rules. The report also mentioned that the FCA's crypto regulatory framework will come into effect in 2027.

The European Commission stated that SpaceX must urgently restore all services in Ukraine.

U.S. Secretary of State Rubio defended the Trump administration's support for Ukraine, stating that without U.S. support, Ukraine would no longer exist.He responded to questions regarding a report from The Wall Street Journal and stated that the U.S. cannot control the disposal of products by private enterprises. Rubio revealed that a U.S. envoy will engage in difficult negotiations with Russia in St. Petersburg, focusing on the fate of the Donbas region.

According to Engadget, the UK's Competition and Markets Authority (CMA) has issued a proposal requiring Apple to open access to NFC contactless payment on the iPhone and significantly reduce related fees. The CMA stated that Apple's fees and rules hinder the innovation and development of fintech companies in the UK. Currently, 39% of payments in the UK are made via contactless methods, with Apple Wallet being the most used.Unlike the European Union, no company in the UK has launched a competing wallet product against Apple so far. The CMA proposed that Apple open Wallet access to international mainstream contactless standards, with the CMA setting the fee principles without directly pricing them. Apple has expressed opposition, stating that it should not be required to adopt solutions with weaker privacy and security protections. The consultation will close on November 17.

U.S. presidential envoy Wittekov will meet with Russian President Putin on October 21, and Trump's son-in-law Kushner will participate via video. Previously, the U.S., Ukraine, and Europe had detailed discussions on security guarantees and other aspects of a comprehensive peace framework, reaching a high level of consensus.

According to The Wall Street Journal, Musk ordered to slow down the service speed of "Starlink" in the Ukraine region.

According to Cointelegraph, the crypto advocacy organization Stand With Crypto stated that during a 90-day period from May to August 2026, a total of 9,803 individuals submitted 10,092 complaints to UK banks through the organization's online tools, reflecting the restrictions encountered when transferring to crypto platforms.The highest number of complaints came from Lloyds Banking Group, one of the largest banking groups in the UK, totaling 2,297, followed by Barclays with 1,569 and NatWest Group with 1,278. These complaints have raised concerns about the accessibility of crypto services in the UK ahead of the launch of a new regulatory framework for digital assets in 2027.The report shows that UK banks have varying practices regarding restrictions on crypto transfers. Barclays and HSBC UK are listed as limiting crypto transfers to £2,500 (approximately $3,300) per transaction and £10,000 (approximately $13,300) every 30 days. Six banks, including Starling Bank, TSB, and Chase UK, are listed as completely prohibiting transfers related to crypto.Meanwhile, Lloyds Banking Group and Revolut are classified as having not disclosed their restrictions on crypto transfers, despite also receiving customer complaints. Revolut's official support page states that transfers to "certain cryptocurrency exchanges" are not supported, and a spokesperson for Stand With Crypto indicated that this seems to be a technical issue rather than an established policy.Nick Jones, founder and CEO of Zumo, told Cointelegraph that banking restrictions are a common issue faced by crypto founders in the UK, which could undermine the country's ambition to become a global crypto hub. He stated that the issue of limited access to banking services needs urgent resolution so that UK crypto businesses can grow and expand in a fair environment.Jones also warned that the upcoming crypto regulatory framework in the UK may not address this issue. Although businesses are preparing for mandatory approval from the Financial Conduct Authority (FCA) by October 2027, obtaining business bank accounts is not included in that framework. He added that without coordinated action, businesses may obtain full authorization but still be unable to open UK business bank accounts.

The Sun Wukong ecosystem will hold a deep roundtable discussion themed "When Buybacks and Burns Become the New Narrative of Web3: What Truly Determines Token Value, Is It the Deflationary Mechanism or Real Business?" on October 20 at 8 PM at X Space.This event will focus on the increasing attention Web3 projects are paying to the trends of token buybacks and continuous burns, exploring how to establish a closer connection between token value and ecological development. Invited industry KOLs will jointly analyze whether reducing circulating supply can bring long-term value, and whether buybacks and burns are a new engine for value growth or a long-term mechanism that requires real business support. Guests will discuss the market logic of buybacks and burns, the value creation of Web3 projects, and dissect the relationship between deflationary mechanisms, continuous business growth, and real user demand.

Three men from Bristol, England, broke into a man's home in the early hours of May 15, assaulted the victim, and demanded a large amount of cryptocurrency. The victim sustained head injuries and was hospitalized, while the three men failed to obtain any cryptocurrency. Terroll Paul, Mohamed Samagassi, and Pierre Madzou all pleaded guilty to aggravated burglary and were sentenced at Bristol Crown Court on October 15. Paul was sentenced to 6 years, Madzou to 5 and a half years, and Samagassi to 5 years.The victim's underage sister called the police, and the three were subsequently arrested at the scene. The police did not disclose the amount of cryptocurrency demanded by the three men. The case falls under "ransom attacks," where criminals use violence or threats to force cryptocurrency holders to hand over digital assets. Data from blockchain security company CertiK shows that in the first six months of 2026, such attacks globally resulted in losses of $124 million, a 12-fold increase year-on-year.

According to a report by the Financial Associated Press, Microsoft has withdrawn from a large artificial intelligence data center project developed by the UK data center company Nscale in Essex, with reports indicating that the withdrawal is related to concerns over power supply. Officials from the UK National Grid had informed Nscale that the power supply for the data center is not expected to be in place until the 2030s. Nscale is exploring whether it can generate power on-site and whether it can expedite the grid connection process.The project was previously referred to by the UK government as the largest data center in the UK, originally scheduled to open next year. As of the report, the site still appears to be just a scaffolding yard. Microsoft had originally planned to fund the construction of a supercomputer, but the collaboration has now been terminated. Following the termination of the related computing power transaction, Nscale lost its only publicly announced client for the data center in Essex. Nscale stated that its relationship with Microsoft remains strong and long-lasting, and the two parties will continue to collaborate on other overseas projects, with Microsoft still participating in another project in Norway.The Starmer government highlighted this project when announcing the UK's 2025 artificial intelligence strategy, calling it the largest autonomous artificial intelligence data center in the UK. Nscale has received support from several tech companies, including Nvidia, and plans to go public in the US this year, with a valuation potentially reaching $35 billion.

U.S. Secretary of State Rubio stated that no one in the White House ordered a reduction in the speed of Ukraine's access to "Starlink." An advisor to the President of Ukraine claimed that SpaceX had throttled "Starlink," causing mission interruptions, but the services used by the Ukrainian military have returned to normal. President of Ukraine Zelensky stated that the speed limit is only effective within Ukraine.

Ukrainian President Zelensky stated that the leaders of Ukraine, the United States, and Russia may meet during the G20 summit to be held in the United States, or possibly in a Middle Eastern country. The G20 summit is scheduled for December, but Russia and the United States have not yet confirmed.

Ukrainian President Zelensky stated that through comparative testing in EU countries, it was found that the speed limit for Starlink satellite communication terminals only takes effect within Ukraine. The speed limit for terminals within Ukraine is 161 kilometers per hour, and exceeding this limit results in a loss of connection.The tests showed that when traveling at speeds exceeding 180 kilometers per hour in EU countries, the terminals continued to operate normally. Zelensky believes this is a planned action and questions whether it is intended to weaken Ukraine's defensive capabilities.