This consultation paper (Chapter 2) proposes an amendment to CASS 8 to clarify that where a firm is safeguarding client cryptoassets in accordance with CASS 17, it does not also have to comply with the mandate rules in CASS 8 in respect of those client cryptoassets. We have recommended the ...

Earlier this year, the UK took a notable step toward bringing digital assets closer to mainstream financial markets. The Financial Conduct Authority confirmed that retail investors would once again be able to access crypto exchange-traded notes (ETNs), reversing a ban that had been in place since 2021. Following a consultation ...

On 23 January 2026, the Financial Conduct Authority (FCA) published CP26/4: Application of the FCA Handbook for Regulated Cryptoasset Activities – Part 2. This consultation sets out how key sections of the FCA Handbook would apply to firms undertaking regulated cryptoasset activities under the UK’s forthcoming regulatory framework. The proposals ...

Calls from MPs to restrict or ban cryptocurrency donations to political parties are growing louder. Concerns about foreign interference in political finance are real, and policymakers are right to scrutinise potential vulnerabilities in the systems that underpin democratic institutions. But as the debate gathers momentum, an important question risks being ...

On 26 February 2026, the Payments Vision Delivery Committee published the Payments Forward Plan, setting out a clear and coordinated regulatory roadmap for the payments sector over the next three years. Developed jointly by HM Treasury, the Bank of England, the Financial Conduct Authority, and the Payment Systems Regulator, the ...

On 16 December 2025, the Financial Conduct Authority (FCA) published a coordinated package of three crypto consultation papers, setting out the next phase of the UK’s digital asset regulatory framework. With our earlier responses now published, we are pleased to share the third and final of our three submissions. This ...

On 16 December 2025, the Financial Conduct Authority (FCA) published a coordinated package of three crypto consultation papers, setting out the next phase of the UK’s digital asset regulatory framework. Following the publication of our first response earlier this week, today we are pleased to share the second of our ...

On 16 December 2025, the Financial Conduct Authority (FCA) published a coordinated package of three crypto consultation papers, setting out the next phase of the UK’s digital asset regulatory framework. CP25/40 “Regulating cryptoasset activities” focuses on bringing core cryptoasset activities into the UK regulatory perimeter, including trading platforms, intermediation, lending ...

On 10th November, the Bank of England (BoE) published a consultation paper setting out its proposed regulatory regime for sterling-denominated systemic stablecoins. This paper is aimed at preparing for a future where new forms of digital money may be widely used for payments alongside existing ones, offering valuable choice for ...

Foreign interference is a real and growing national security concern. In practice, however, the most scalable and effective forms of foreign influence in modern democracies are exercised through information systems — online platforms, social media, and digital amplification — rather than through direct political funding. The question, then, is whether ...