UK House of Lords Passes Digital Asset Strategy Amendment 194-138

Odaily News: The UK House of Lords passed an amendment by a vote of 194 to 138, requiring the Treasury to formulate, publish, and consult on a national digital asset strategy within 12 months after the Financial Services and Markets Act takes effect.

The strategy must cover crypto assets, qualifying stablecoins, central bank digital currencies, tokenized securities, and other digital financial assets, and review the availability of banking, payment, and settlement services, as well as the risks to competition and innovation posed by the withdrawal of related services.

The bill still needs to undergo a third reading in the House of Lords on September 15, and will then be submitted to the House of Commons for consideration. The UK Financial Conduct Authority (FCA) completed the formulation of rules and guidance for the new crypto asset regulatory regime on June 30. The authorization application channel is planned to open on September 30, 2026, and the regime will take effect on October 25, 2027. (Bitcoin.com News)