What we think

1. Executive Summary The Financial Conduct Authority (FCA) has concluded its introductory webinar outlining the definitive roadmap for the UK’s transition from the limited Money Laundering Regulations (MLR) to a comprehensive Financial Services and Markets Act (FSMA) regime. The headline message is critical:  The regulatory bar has been raised significantly. There is no automatic transfer (“grandfathering”)  for currently registered firms. Every Crypto Asset Service Provider

1. Executive Summary December 2025  marked a definitive structural shift in the global crypto landscape from regulatory containment  to regulated integration . For Crypto-Asset Service Provider (CASP) business models, the era of arbitrage is effectively closed. The new operating reality is characterised by a “Great Divergence” : Expansion:  Expanded addressable markets and banking access in the US , UK , and Japan . Contraction:  Sharply rising capital and operational costs i

Executive Summary June 2025 marked a period of significant progress in establishing detailed regulatory frameworks for digital assets...

Executive Summary: Global Digital Asset Regulatory Developments - November 2024 November 2024 witnessed significant regulatory progress...

MiFID, implemented in 2007, revolutionised European capital markets by increasing competition, transparency, and investor protection....

The world of Decentralised Finance (DeFi) is rapidly evolving, pushing the boundaries of traditional finance and challenging existing...

House Financial Service Hearing Entitled: Decoding DeFi: Breaking Down the Future of Decentralised Finance Summary The hearing convened...

The cryptocurrency industry has closely watched the SEC's lawsuit against Ripple Labs. The recent ruling marks a pivotal moment with...

The decentralised finance (DeFi) landscape continues to evolve rapidly, with significant developments worldwide in the second quarter of...

The Bank of England (BoE) has released a discussion paper outlining its forward-looking approach to the rapidly evolving landscape of...

The world of Decentralised Finance (DeFi) is booming and powered by the innovative capabilities of smart contracts. However, the rapid...

Under English law, the UK Law Commission has taken a significant step in solidifying the legal status of digital assets, such as...

The UK government has set its sights on becoming a global hub for crypto innovation. But with innovation comes responsibility – and that...