UK FCA: Plans to Regulate Cryptocurrency Applications that Automatically Select Trading Paths

According to a report by CryptoSlate, the UK's Financial Conduct Authority (FCA) pointed out in its latest draft of regulatory guidance that if cryptocurrency trading applications autonomously select trading platforms and trading paths based on factors such as price, liquidity, trading costs, or execution speed through algorithms, they may be deemed to be engaging in regulated crypto asset trading arrangements and will need to obtain the appropriate licenses.