UK digital asset strategy wins House of Lords backing in 194–138 vote

The UK House of Lords has voted 194–138 to require the Treasury to publish and consult on a national digital asset strategy within 12 months of the Financial Services and Markets Bill becoming law. Summary Peers approved the digital asset strategy amendment by a margin of 56 votes. The Treasury would have 12 months after Royal Assent to prepare and publish the strategy. Cryptoassets, stablecoins, tokenized securities and digital settlement systems would fall within its scope. The bill must pass through the House of Commons before the requirement can become law. UK digital asset strategy amendment sets a 12-month deadline UK Parliament voting records show that Baroness Neville-Rolfe moved Amendment 88 during the bill’s Report Stage on Sep. 9, with 194 peers voting in favor and 138 opposing it. Conservative and Liberal Democrat members provided most of the support, while 127 Labour peers voted against the proposal. Added after Clause 46, the amendment requires the Treasury to prepare, publish and consult on a strategy for regulating and developing digital assets and related financial market infrastructure. The 12-month deadline would begin on the date the bill receives Royal Assent. ...