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United Kingdom: Financial Services and Markets Bill including stablecoin regulation

Progress

Current status
adopted
29 Jun 2023 adopted
21 Oct 2022 under deliberation
20 Jul 2022 under deliberation

Scope

Implementers
United Kingdom
Policy Area
Other operating conditions
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
legislature
Government Body
parliament
Implementation Level
national

Timeline of events

29 Jun 2023
adopted

Adopted Financial Services and Markets Bill including stablecoin regulation

On 29 June 2023, the Financial Services and Markets Bill received Royal Assent. The Bill has been under discussion in the British Parliament since July 2022 and is expected to enhance legal clarity and support the adoption of cryptocurrencies in the…

Source
Event type law
Action type signing
Government branch legislature
Government body parliament
21 Oct 2022
under deliberation

Amendment to Financial Services and Markets Bill to include Cryptoassets

On 21 October 2022, an amendment to the Financial Services and Markets Bill was introduced in the House of Commons by MP and Financial Secretary to the Treasury Andrew Griffith. The amendment aims to expand the Treasury's powers to regulate the cryp…

Source
Event type law
Action type amendment
Government branch legislature
Government body parliament
20 Jul 2022
under deliberation

Introduced Financial Services and Markets Bill including stablecoin regulation

On 20 July 2022, the Financial Services and Markets Bill, including updated regulation of digital means of payment, was introduced in the UK Parliament. The Bill gives the Treasury expanded powers to regulate the use of digital settlement assets (DS…

Source
Event type law
Action type introduction
Government branch legislature
Government body parliament