Alerts Sign-up
On November 20, Gherson LLP published an analysis on the evolving regulatory landscape for cryptoassets in the UK, highlighting recent legislative efforts aimed at addressing gaps in oversight. Key developments include the Financial Services and Markets Act 2023 and the proposed Property (Digital Assets) Bill.
“These impending regulatory changes herald a new era for crypto regulation in the UK,” said the report, stressing that firms must remain vigilant in ensuring compliance as the Financial Conduct Authority (FCA) continues its enforcement efforts.
The Financial Services and Markets Act 2023 introduces provisions for stablecoin regulation, granting HM Treasury authority to create an FCA authorisation and supervision regime for stablecoins and giving the Payment Systems Regulator oversight of digital payment systems.
