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
Following HM Treasury’s October 2023 policy update on plans for regulating stablecoins, the Bank of England (Bank) and the Financial Conduct Authority (FCA) have published discussion papers providing more details on aspects...more
On 2 November 2023, the Financial Conduct Authority published its Finalised non-handbook guidance on Cryptoasset Financial Promotions (FG23/3) (the “Guidance”). While the Guidance does not create new regulatory obligations...more
On 30 October 2023, the UK government published its response to the consultation and call for evidence on the future financial services regulatory regime for cryptoassets, whereby HM Treasury has confirmed its final...more
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
In the discussion paper, the UK financial supervisory authorities have not provided a new legal framework or their intended future approaches for regulating the use of AI and machine learning in financial services. However,...more
On 8 June 2022, HM Treasury published its policy statement, outlining a proposal to regulate third parties to financial services and financial market infrastructure firms (“Firms”). This proposal comes shortly after the EU,...more
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
On 18 January 2022, HM Treasury published the results of its July 2020 consultation on cryptoasset promotions, and confirmed that the UK government will introduce measures that will effectively bring a wider range of...more
In recent years, operational resilience has come under the spotlight of financial regulators globally, leading to a proliferation of new regulation. The sheer number of publications on this topic can be confusing for...more
The UK Financial Conduct Authority (FCA) has reminded crypto businesses to apply for registration by the end of the month to ensure that their applications are processed on time before the January 2021 deadline....more
The UK Financial Conduct Authority (FCA) has become the anti-money laundering and countering the financing of terrorism (AML/CFT) supervisor for some types of cryptoasset businesses. These will need to meet certain...more
1/21/2020
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