UK House of Lords mandates national crypto strategy

The UK House of Lords has passed an amendment requiring the government to develop a national strategy for cryptocurrencies, stablecoins, and tokenized assets. The amendment, known as the Digital Assets Strategy, was attached to the Financial Services and Markets Bill with a 194-138 vote. If enacted, the Treasury will have 12 months to publish and consult on a plan for digital assets and financial market infrastructure. The bill must still pass through the House of Commons to become law.