Treasury consults on regulatory approach to cryptoassets and stablecoins

In January, HM Treasury opened a consultation on the regulation of cryptoassets and stablecoins as part of its wider consultative process on the Government’s approach to cryptoasset regulation. Charlotte Hill, Clare Reynolds and Lauren Clarke examine the proposals and consider next steps.

Charlotte Hillis a partner and head of the Financial Services Regulatory group at Taylor Wessing in London, whereClare Reynoldsis a senior associate and Lauren Clarke an associate. Contact them onc.hill@taylorwessing.com,c.reynolds@taylorwessing.com and l.clarke@taylorwessing.com.

Background to the consultation

This consultation [1] follows HM Treasury’s (HMT’s) March 2020 Budget, which outlined two measures as part of the United Kingdom’s overarching response to cryptoassets: