UK House of Lords Votes 194-138 in Favor of Digital Asset Strategy

The UK House of Lords passed an amendment requiring the government to develop a comprehensive digital asset strategy, despite opposition from the Labour Party. Proposed by Conservative peer Baroness Neville-Rolfe, the amendment mandates that the Treasury publish and consult on a strategy covering crypto assets, stablecoins, and tokenized securities within 12 months of the Financial Services and Markets Act taking effect. The strategy must address innovation, consumer protection, and access to banking and payment services.