The UK House of Lords passed an amendment by 194 votes to 138 requiring the Treasury to draft, publish, and consult on a national digital asset strategy within 12 months of the Financial Services and Markets Act taking effect. According to Odaily, the strategy must cover crypto assets, qualifying stablecoins, central bank digital currencies, tokenized securities, and other digital financial assets, while also reviewing access to banking, payments, and settlement services and the risks to competition and innovation from withdrawing those services.

The bill still needs a third reading in the House of Lords on September 15 before moving to the House of Commons. The Financial Conduct Authority completed rules and guidance for the new crypto asset regulatory regime on June 30, with the authorization application channel set to open on September 30, 2026, and the regime due to take effect on October 25, 2027.