UK House of Lords Votes for Digital Asset Strategy Within 12 Months
The UK's House of Lords has backed a proposal for a formal digital asset strategy, requiring the Treasury to publish and consult on it within 12 months. This move was made in response to concerns about the pace of development in digital assets and the need for a more unified regulatory structure.
The amendment, which passed with a vote of 194-138, aims to address both innovation and consumer protection in the token economy. The strategy will cover cryptoassets, stablecoins, and tokenized securities, as well as practical questions firms face in accessing banking, payment, and settlement services.
The UK Cryptoasset Business Council welcomed the move, emphasizing that a clearer policy posture can encourage investment in longer-term product development and institutional partnerships.