The U.K.'s Financial Conduct Authority (FCA) is seeking views on intermediaries, staking, lending, borrowing, and decentralised finance (DeFi), in a discussion paper released on Friday.

The discussion paper follows draft legislation by the Treasury that was announced on Tuesday. Once the legislation passes it will bring specific crypto activities within the FCA’s regulation, the regulator said on its website.

"Crypto is a growing industry. Currently largely unregulated, we want to create a crypto regime that gives firms the clarity they need to safely innovate, while delivering appropriate levels of market integrity and consumer protection," said David Geale, executive director of payments and digital finance at the FCA.

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