UK Lords vote for national digital asset strategy

• UK peers have voted 194–138 to require a national digital-assets strategy.
• The proposed strategy would cover crypto, stablecoins, CBDCs and tokenised securities.
• The amendment still needs to complete the parliamentary process before becoming law.

The UK House of Lords has voted 194–138 to require the Treasury to develop a national digital-assets strategy.

The amendment requires the Treasury to prepare, publish and consult on the strategy within 12 months of the bill becoming law.

The proposed strategy would cover cryptoassets, qualifying stablecoins, central bank digital currencies and tokenised securities.

It would also examine access to banking, payments and settlement services for digital-asset businesses.

The amendment would require the Treasury to consider competition, innovation and risks linked to withdrawn financial services.

The Financial Services and Markets Bill already includes wider crypto rules, with the FCA’s new regime taking effect in October 2027.

The amendment is not yet law, with the bill due for its Lords third reading on September 15 before returning to the House of Commons.