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Goodwin

Shielding Staking from UK Funds Regulation: The First Crypto Law of 2025

Goodwin on

In a previous alert, we identified that the definition of a collective investment scheme (CIS) could capture on-chain staking, and that the UK government, acting through the HM Treasury (HMT), was looking to clarify the...more

A&O Shearman

Speech: UK government's Approach to Tokenization and Regulation

A&O Shearman on

HM Treasury has published a speech given on November 21, 2024, by Tulip Siddiq, Economic Secretary to the Treasury, on the U.K. government's approach to tokenisation and regulation. In the speech, Ms. Siddiq confirms that HM...more

Hogan Lovells

UK Mansion House speech and the National Payments Vision - what this means for digital assets and tokenization

Hogan Lovells on

The Chancellor of the Exchequer’s Mansion House speech on 14 November 2024 and the National Payments Vision—published on the same day—set out key policy initiatives regarding the future of the UK financial services sector....more

A&O Shearman

UK Conduct Authority Consults on Regulating Fiat-Backed Stablecoins

A&O Shearman on

The U.K. Financial Conduct Authority has published a discussion paper regarding potential future proposals for regulating fiat-backed stablecoins, including when used as a means of payment. The FCA's paper follows the...more

Hogan Lovells

Bank of England discussion paper on regulatory regime for systemic payment systems using stablecoins

Hogan Lovells on

As mentioned in HM Treasury’s October 2023 policy update on plans for regulating stablecoins, the Bank of England (Bank) has published a discussion paper providing more details on its proposed regulatory regime for systemic...more

Skadden, Arps, Slate, Meagher & Flom LLP

A New UK Cryptoasset Framework: UK Government Publishes Consultation Response

On 30 October 2023, the HM Treasury (HMT) published its much-anticipated response (Consultation Response) to its March 2023 consultation paper (Consultation) on the UK’s future financial services regime for cryptoassets....more

Goodwin

Crypto business in (and “to”) the UK: Further light on the new regulatory regimes

Goodwin on

The Response and Stablecoins Update confirm the core of HMT’s policy proposals in the General Consultation and Stablecoin Consultation, respectively, although they shine further light on the features of the regulatory regime....more

A&O Shearman

HM Treasury Publishes Response to Cryptoasset Regulatory Regime Consultation

A&O Shearman on

HM Treasury has published a response to its consultation on cryptoasset regulation, setting out its final proposals for the U.K.'s cryptoasset regulatory regime. The U.K. plans to make cryptoassets a new category of...more

Orrick, Herrington & Sutcliffe LLP

UK Government to regulate cryptoassets more strictly under a new regulatory regime

On October 30, the HM Treasury of the UK Government released a report titled “Future Financial Services Regulatory Regime for Cryptoassets,” confirming its plans to regulate digital assets more strictly. The regulatory...more

Katten Muchin Rosenman LLP

UK Financial Insights from Katten | Issue 2

UK Financial Insights from Katten is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds in the UK and Europe....more

Katten Muchin Rosenman LLP

FCA Publishes Expectations on the Travel Rule for UK Cryptoasset Businesses

The Financial Conduct Authority (FCA) has published a statement (Statement) on its expectations for UK cryptoasset businesses (CBs) complying with the Travel Rule (as defined below). From 1 September 2023, CBs will be...more

Katten Muchin Rosenman LLP

Financial Markets and Funds Quick Take | Issue 14

Daniel Davis Shares Views on Digital Asset Regulation During House Subcommittee Hearing - In testimony before the US House of Representatives Subcommittee on Commodity Markets, Digital Assets, and Rural Development, Daniel...more

A&O Shearman

Extension of financial promotion regime to cryptoassets – six key points

A&O Shearman on

On 27 March 2023, the UK’s HM Treasury published draft legislation – The Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) Order 2023 (the Order). The Order will extend the ‘financial promotion’...more

Hogan Lovells

UK regulatory approach to cryptoassets: Draft SI amending the Financial Promotions Order

Hogan Lovells on

Following on from HM Treasury’s consultation and call for evidence on the regulation of cryptoassets and an updated policy approach in relation to financial promotions, a draft version of the Financial Services and Markets...more

A&O Shearman

UK Proposals for Cryptoasset Regulation

A&O Shearman on

The U.K. government has published its much-anticipated proposals for regulating the cryptoasset industry. These proposals, currently in the form of a consultation, will see many (but not all) cryptoasset-related activities...more

Hogan Lovells

ESG Regulation Monthly Round-Up – January 2023

Hogan Lovells on

2023 is here and ESG developments have continued apace throughout January with ESG remaining squarely on the financial services regulatory agenda in the UK and internationally.  In this edition, we share the latest key focal...more

Hogan Lovells

UK Cryptoassets: HMT consultation and call for evidence on a future financial services regulatory regime

Hogan Lovells on

On 1 February 2023, HM Treasury published a long-awaited consultation paper and call for evidence setting out proposals for the UK’s financial services regulatory regime for cryptoassets. The proposals mark the next stage of...more

Hogan Lovells

UK: Bespoke temporary exemption for financial promotions relating to qualifying cryptoassets

Hogan Lovells on

In a departure from recent proposals to bring certain cryptoassets into the scope of the Financial Promotion Order, the government intends to introduce a bespoke temporary exemption for financial promotions relating to...more

A&O Shearman

Treasury Committee Inquiry: The Crypto-Asset Industry Report

A&O Shearman on

Innovate Finance and Shearman & Sterling has submitted a comprehensive evidence paper to the House of Commons Treasury Committee inquiry into crypto-assets. Analysis produced by Innovate Finance specially for the...more

A&O Shearman

HM Treasury Publishes Inquiry Into Crypto-Assets

A&O Shearman on

HM Treasury has launched an inquiry into the role of crypto-assets in the U.K. and their regulatory framework. The inquiry poses questions on a range of subjects, including the likelihood of digital currencies (e.g.,...more

Wilson Sonsini Goodrich & Rosati

European Regulatory Overhaul for Crypto Firms on the Horizon

The EU and the UK are developing significant changes to their regulatory frameworks to reflect the growing importance of the cryptoasset sector in Europe. We discuss a major EU development—the proposed Markets in Cryptoassets...more

A&O Shearman

Government Details Proposed Financial Services and Markets Bill

A&O Shearman on

Following the Queen's speech yesterday, the government has published a briefing pack setting out details of the bills that it intends to introduce, including the so-called Brexit Freedoms Bill as well as key legislation...more

Hogan Lovells

Global Payments Newsletter, April 2022

Hogan Lovells on

Key developments of interest over the last month include: HM Treasury announces package of crypto measures including next steps on UK regulatory approach to cryptoassets, stablecoins and DLT in financial markets; Philippines...more

BakerHostetler

New Crypto Payment Initiatives; Regulators Address Crypto in Speeches; Lawmakers Propose Legislation; OFAC Sanctions Crypto...

BakerHostetler on

Crypto Payment Initiatives Announced in Stablecoins, Lightning Network, Mining - Late last week, the issuer of USD Coin (USDC) announced that it had selected a major U.S. bank as a primary custodian for USDC reserves....more

Hogan Lovells

HM Treasury stablecoin regulation proposals aimed at positioning UK as global crypto hub

Hogan Lovells on

HMT has published its response to its January 2021 consultation and call for evidence on the UK regulatory approach to cryptoassets and stablecoins. The consultation response confirms the government’s intention to bring...more

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