Cryptoasset Regulation: UK government publishes policy papers on future regulation of cryptoassets and fiat-backed stablecoins

On 30 October 2023, the government published three policy documents on cryptoassets regulation in the UK, covering fiat-backed stablecoins, the wider cryptoasset regulatory regime and the failure of systemic digital settlement asset (DSA) firms.

On the whole, the updates confirm the approaches previously proposed. However, much of the detail will only emerge in the next phase once secondary legislation and regulators’ rules have been published. Continue reading