On 17 December 2025, the European Banking Authority (EBA) published a letter (dated 21 November 2025) that it had sent to John Berrigan, DG FISMA, and Roberto Viola, DG CNECT, regarding the outcome of its AI Act mapping exercise. In the Annex to the letter, the EBA sets out a detailed identification of
On 16 December 2025, the Financial Conduct Authority (FCA) published three further consultation papers (CPs) in relation to cryptoasset regulation: (1) CP25/40 – regulating cryptoasset activities; (2) CP25/41 – admissions and disclosures, and market abuse regime, for cryptoassets; and (3) CP25/42 – a prudential regime for cryptoasset firms.
On 10 November 2025, the Bank of England (BoE) published two papers that could materially reshape how payments and certain financial services operate in the United Kingdom. The first is a consultation paper, “Proposed regulatory regime for sterling-denominated systemic stablecoins.” This sets out a proposed prudential and supervisory regime for those sterling-denominated stablecoins
On 9 December 2025, the Australian Securities and Investments Commission (ASIC) issued new measures that build on the previous stablecoin relief by exempting intermediaries from the requirement to hold separate Australian financial services (AFS), Australian market, or clearing and settlement facility licences when providing services relating to eligible stablecoins or wrapped
On 3 December 2025, the Dutch Ministry of Finance published the draft implementation decree on financial services contracts concluded at a distance (the Draft Decree) for consultation and amends the rules on the provision of information to consumers by financial service providers, investment firms, fund managers, crypto-asset service providers and crowdfunding service providers.
The
On 2 December 2025, the Property (Digital Assets etc) Act (the Act) became law.
The Act itself only contains a single technical amendment making clear that digital assets are not prevented from being treated as property simply because they do not fit into either of the traditional two legal categories of property: (a) ‘a
On 4 December 2025, the European Securities and Markets Authority (ESMA) issued a statement on the Markets in Crypto Assets Regulation (MiCA) and its transitional regime for crypto asset service providers (CASPs) that offered their services in accordance with applicable law prior to 30 December 2024.
The statement recalls
On 28 November 2025, the European Securities and Markets Authority (ESMA) issued a public statement in relation to the technical specifications concerning the implementation of certain data standards and formats requirements under the Markets in Crypto Assets Regulation (MiCA). ESMA has also issued MiCA order book and records keeping message specifications
On 26 November 2025, the Financial Conduct Authority published a new webpage regarding the Regulatory Sandbox and its stablecoins cohort.
The FCA has launched a special cohort within its Regulatory Sandbox for firms issuing stablecoins. This is a unique chance for innovative companies to test their stablecoin products and services under the UK’s evolving regulatory