The House of Lords will begin the detailed review of the Financial Services and Markets Bill on 25 January 2023.
The Bill seeks to make wide-ranging changes to the regulation of financial services in the UK. It would implement the outcomes of the Future Regulatory Framework review and establish a regime to regulate stablecoins, a type of cryptoasset, and protect access to cash.
Related content from Claritax Books
In Cryptocurrency and Other Digital Assets – Tax Law and Practice, by Andy Wood, the author explores how established principles of UK taxation (e.g. trading or investment, the nature of income, the location of assets, tax reliefs) are properly applied to the fast-moving crypto world.