On 18 March 2025, the Chancellor of the Exchequer, Rachel Reeves, met with a group of fintech CEOs and confirmed the next steps to test distributed ledger technology (DLT) in the UK gilt market. As part of those next steps, Ms Reeves announced details of the launch of the procurement process for the
On 4 February 2025, the Property (Digital Assets etc) Bill completed the House of Lords Committee stage.
The purpose of the Bill is to make provision about the types of things that are capable of being objects of personal property rights, as is further explained in our previous blog regarding the original publication of the
On 30 January 2025, the Financial Services and Markets Act 2023 (Digital Securities Sandbox) (Amendment) Regulations 2025 were laid before Parliament and published on legislation.gov.uk, along with an explanatory memorandum.
The Regulations amend the Financial Services and Markets Act 2023 (Digital Securities Sandbox) Regulations 2023 (the DSS Regulations), to modify the effect of
On 14 January 2025, the Bank of England (BoE) published a progress update and a design note on the blueprint framework for a digital pound.
Background
The BoE and HM Treasury are exploring the possibility of introducing a digital pound, as a digital complement to banknotes. If introduced, the digital pound would be
On 9 January 2025, the Financial Services and Markets Act 2000 (Collective Investment Schemes) (Amendment) Order 2025 (the Order) was laid before Parliament and published, along with an explanatory memorandum.
The purpose of the Order is to ensure that arrangements for qualifying cryptoasset staking do not amount to a collective investment scheme
On 16 December 2024, the Financial Conduct Authority (FCA) published a discussion paper, DP24/4, on admissions and disclosures (A&D) and the market abuse regime for cryptoassets (MARC).
The proposals
The FCA has published DP24/4 to help inform the development of its rules for cryptoasset A&D and the MARC.
This article first appeared in Thomson Reuters Regulatory Intelligence.
The UK authorities have recently made a number of announcements that reaffirm and further clarify their intentions with digital assets.
On November 21, Tulip Siddiq, the economic secretary to HM Treasury, gave a speech on the government’s approach to tokenisation and regulation at the City &
On 12 December 2024, the Prudential Regulation Authority (PRA) published a data request relating to firms’ exposures to tokenised assets, stablecoins and other cryptoassets.
Through the data request, the PRA is seeking to gather information on firms’ current and expected future cryptoasset exposures and firms’ application of the Basel framework for the prudential
On 26 November 2024, the Financial Conduct Authority (FCA) published a new webpage on cryptoasset financial promotions and fiat-to-crypto on/off ramp services, which reminds firms that they should carefully consider the risks of partnering with unregistered cryptoasset firms that may be illegally promoting to UK consumers.
The FCA notes that, following engagement
On 26 November 2024, the Financial Conduct Authority (FCA) published a press release, blog and roadmap providing an update on its plans for regulating cryptoassets.
Increasing use of cryptoassets
In the press release, the FCA notes that, according to its latest research on consumer attitudes and behaviours towards cryptoassets, ownership is continuing