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Polygon Unveils Innovative Onchain Payment Solutions

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trade.xyz Launches Event Contracts to Enter Prediction Market

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Trending Token Price Prediction ChallengeHTX 13th-Anniversary CarnivalXMR Means Private, decentralized cryptocurrencyThe UK House of Lords backed an amendment requiring the government to develop a dig

 Trending Token Price Prediction Challenge

XMR Means Private, decentralized cryptocurrency

The UK House of Lords backed an amendment requiring the government to develop a digital asset strategy, in a 194–138 vote on Wednesday, despite the Labour government’s opposition to the measure.

The amendment was added to the Financial Services and Markets Bill during its Report Stage on Wednesday. The bill is progressing through Parliament and would make broader changes to the UK’s financial services regulatory framework.

Amendment 88, introduced by Conservative peer Baroness Neville-Rolfe, would require the Treasury to prepare, publish and consult on a digital asset strategy within 12 months of the Financial Services and Markets Bill becoming law.

The strategy would cover cryptoassets, stablecoins and tokenized securities, while addressing issues including innovation, consumer protection and firms’ access to banking, payment and settlement services.

The vote follows months of debate over the UK’s approach to digital assets. During a July debate, Treasury’s Minister for Investment, Lord Stockwood, pushed back on calls for a statutory framework, saying the government believed it already had a digital asset strategy and was executing it.

The ruling Labour party opposed the amendment because they believed it did not adequately address the rapid development of digital assets and the need for a cohesive regulatory framework.

The UK Cryptoasset Business Council, which said it worked with lawmakers on the amendment, welcomed the vote on Thursday, highlighting Lord Chris Holmes’ question of whether the UK is “simply regulating digital assets” or “building a digital assets economy.”

The bill must still return to the House of Commons, where lawmakers can accept, amend or reject the Lords’ changes.

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The UK House of Lords backed an amendment requirin

On September 11, London challenger bank Monument Bank postponed its project to tokenize £250 million (approximately $330 million) in UK retail bank deposits by several months. The delay is due to the 

Monument Bank Delays Retail Tokenized Deposits Due to UK Regulatory Issues

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On September 11, the UK House of Lords passed an amendment on Wednesday with 194 votes in favor and 138 against, calling for the government to develop a digital asset strategy, despite opposition from

UK House of Lords Supports Digital Asset Strategy with 194 Votes in Favor

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