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UK House of Lords approves push for mandatory digital asset strategy

The measure would require the UK Treasury to publish and consult on a digital asset strategy within 12 months of the bill becoming law, covering cryptoassets, stablecoins and tokenized securities.

Reported · Written up by our desk · Regulation

The UK House of Lords has backed an amendment that would require the government to develop a digital asset strategy, passing the vote 194–138 despite opposition from the Labour administration, according to Cointelegraph.

The amendment, added during the Financial Services and Markets Bill’s Report Stage, would require the UK Treasury to prepare, publish and consult on the strategy within 12 months after the bill becomes law.

The planned strategy would cover cryptoassets, stablecoins and tokenized securities, and it would address areas including innovation, consumer protection, and firms’ access to banking, payment and settlement services.

Cointelegraph reports the bill would still need to return to the House of Commons, where lawmakers can accept, amend or reject the Lords’ changes.

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