UK and EU cryptoasset regulatory landscapes take shape

The EU's DORA and MiCA are now fully in operation, while the UK has provided further clarity on its proposed regulatory framework for cryptoassets. Steven Lightstone outlines new and coming developments.

Steven Lightstone (steven.lightstone@morganlewis.com) is a partner in London and co-leader of law firm Morgan Lewis' global fintech industry team. Copyright 2025, Morgan, Lewis & Bockius LLP. All Rights Reserved. This article is provided as a general informational service and it should not be construed as imparting legal advice on any specific matter.

The cryptoasset regulatory frameworks in the United Kingdom and European Union are continuing to take shape, with further clarity having been provided towards the end of 2024 on the proposed new UK regulatory framework for cryptoassets. This is now intended to take effect in 2026, while the EU Digital Operational Resilience Act (DORA) and remaining provisions of the EU Markets in Cryptoassets Regulation (MiCA) have just taken effect. We discuss below the latest proposals set out by the Government and Financial Conduct Authority in the UK, the implications of the new EU cryptoasset regulatory requirements, along with expected developments in the course of 2025 and beyond.