UK Parliament Passes Amendment Mandating Digital Asset Strategy Development

The UK House of Lords has passed a legislative amendment mandating the government to establish a digital assets strategy encompassing cryptocurrencies, stablecoins, and tokenized securities. The amendment, approved by a vote of 194 in favor to 138 against on September 9 (local time), requires the Treasury to publish the strategy and seek public feedback within 12 months of the bill becoming law.

However, the amendment was opposed by the government, meaning it must undergo further review by the House of Commons before final approval. The Commons may accept, amend, or reject the proposal.