UK House of Lords passes amendment requiring a national digital asset strategy within 12 months.
Regulation & Gov ·
The UK House of Lords has passed an amendment requiring the government to develop a national digital asset strategy within 12 months, signaling legislative pressure to establish a coherent policy framework for the sector. This move reflects broader efforts to position the country as a competitive hub for crypto innovation while maintaining consumer safeguards.
The UK's regulatory landscape for cryptoassets has undergone significant transformation. Parliament formally brought digital assets within the Financial Conduct Authority's oversight through regulations that took effect in early 2026, establishing a comprehensive framework covering exchange operations, asset custody, stablecoin issuance, and deal arrangements. The full authorisation system is scheduled to launch in late 2027, with multiple consultation workstreams addressing stablecoins, prudential standards, and market conduct rules running in parallel. Firms already registered under anti-money-laundering requirements will transition to complete authorisation during this period.
The amendment's 12-month timeline now creates a formal deadline for strategy development, though it remains unclear whether this will accelerate or reshape the FCA's existing regulatory roadmap. The interplay between parliamentary mandates and regulatory implementation timelines—particularly given the 2027 authorisation date already established—has not yet been detailed by policymakers.