Numerous jurisdictions across the globe are developing their own cryptoasset regulatory frameworks—the UK is no exception. Cryptoasset businesses overseas looking to enter the UK market, or to offer services to customers in...more
On 8 April 2025, the Financial Conduct Authority (FCA) published their Annual Work Programme, detailing what the FCA intends to deliver in 2025/26—read on for our views on what this means for the digital assets space....more
4/9/2025
/ Asset Management ,
Blockchain ,
Cryptoassets ,
Digital Assets ,
Financial Conduct Authority (FCA) ,
FinTech ,
Popular ,
Regulatory Agenda ,
Regulatory Reform ,
Securities Regulation ,
UK
The Markets in Crypto-Assets Regulation (Regulation (EU) 2023/1114) (henceforth “MiCA”), which entered into force in June 2023, seeks to establish a comprehensive regulatory framework for crypto-assets across the EU. However,...more
On 14 January 2025, the Bank of England ("BoE") published a design note outlining its current thinking relating to the design of a digital pound (the "Design Note") and a progress update summarising the BoE’s work on...more
What is happening Many of the largest blockchain networks today are subject to a proof-of-stake (PoS) consensus mechanism, such as Ethereum, Solana, and Polygon, which are reliant on users participating in the activity of...more
In our previous Comparative Guide, we explored innovations in private forms of digital money and money-like instruments available to retail customers, including fiatreferencing stablecoins, e-money and tokenised deposits. As...more
On 9 January 2025, the widely anticipated Statutory Instrument exempting cryptoasset staking from the meaning of “collective investment schemes” as defined under the Financial Services and Markets Act 2000 (FSMA 2000) was...more
1/13/2025
/ Blockchain ,
Collective Investment Schemes ,
Cryptoassets ,
Digital Assets ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services Industry ,
Regulatory Reform ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
UK
On 16 December 2024, the FCA published a discussion paper (DP24/4) (the “Discussion Paper”) on admissions and disclosures and market abuse regimes for cryptoassets. This is part of a series of publications by the FCA (and the...more
This articles provides some insights on the direction of travel in the UK in relation to distributed ledger technology (DLT) and digital assets, in light of recent legislative and policy developments that signal the UK’s...more
On 26 November 2024, the FCA published a number of communications relating to its approach to developing the future cryptoassets regime for the UK, including a roadmap for the development and introduction of the UK’s...more
The FCA has published its expectations on registered or regulated firms partnering with unregistered cryptoasset firms, which may be illegally promoting to UK consumers....more
This articles provides some insights on the direction of travel in the UK in relation to distributed ledger technology (DLT) and digital assets, in light of recent legislative and policy developments that signal the UK’s...more
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
With the Markets in Crypto-Assets Regulation (MiCAR) (Regulation (EU) 2023/1114) becoming fully applicable by the end of this year, crypto-asset service providers seeking to offer their services across the EU need to consider...more
On 30 September 2024, the Bank of England (the “Bank”) and the Financial Conduct Authority (the “FCA”) announced that the Digital Securities Sandbox (the “DSS”) is now open for applications. The Bank and the FCA have also...more
On 30 July 2024, the Bank of England (BoE) published a discussion paper setting out its approach to innovations in money and payments (Discussion Paper). In the Discussion Paper, the BoE sets out its current view on...more
On 26 July 2024, the three European Supervisory Authorities (EBA, EIOPA and ESMA) published the final report on the draft Regulatory Technical Standards relating to subcontracting ICT services supporting critical or important...more
On 17 July 2024, the King’s Speech and associated background briefing notes were presented and published. These contain a summary of the new government’s plans, including a number of proposed bills which could be of...more
The Hogan Lovells Digital Assets and Blockchain practice comments on the implications of the recent general election and change in government for digital asset regulation in the UK....more
From the use of metal coins to the dematerialization of money, the advent of distributed ledger technology (DLT) and tokenisation arguably represents the next stage in the evolution of money and the payments ecosystem. As...more
The BIS Innovation Summit 2024, which took place over 6-8 May 2024, was in turns both an inspiring and surprising event. This article sets out a summary of the key takeaways from the summit....more
On 25 January 2024, the Bank of England and the UK Government (through HM Treasury) published a response to the consultation (the “Consultation Response”) that was launched last year on a UK retail central bank digital...more
On 29 January 2024, the European Securities and Markets Authority (“ESMA”) published two Consultation Papers seeking comments on draft guidelines under the Markets in Crypto Assets Regulation—one on the “reverse solicitation...more
On 6 November 2023, the Prudential Regulation Authority (PRA) published a Dear CEO Letter addressed to deposit-taking entities (e.g. banks) in relation to innovations in deposits, e-money and stablecoins. The Dear CEO Letter...more
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