What we think

Executive Summary The global regulatory environment in March delivered an asynchronous, aggressive push toward integrating Crypto-Asset Service Providers (CASPs) into the traditional financial services (TradFi) perimeter. The sheer volume and severity of cross-jurisdictional updates—ranging from the European Union’s Digital Operational Resilience Act (DORA) and MiCA enforcement preparations, to the UK’s FSMA regime transition and the FATF’s targeted crackdown on offshore liqu

Executive Summary February 2026 represented a structural inflexion point for the global digital asset industry. Regulatory frameworks across major jurisdictions—from the Parliamentary enactment of the UK’s Final Crypto Regime Statutory Instrument to the EU’s AMLA data collection initiatives and the operational onset of the U.S. Treasury’s broker tax reporting—have definitively transitioned from conceptual rulemaking to active enforcement and structural market integration. For

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

Executive Summary November 2025 represents a watershed moment in global financial regulation, characterised by a stark bifurcation in regulatory philosophy between the Atlantic powers. In the European Union, the transition to granular operational enforcement reached its zenith with the designation of Critical ICT Third-Party Providers (CTPPs) under the Digital Operational Resilience Act (DORA) and the finalisation of technical standards under the Markets in Crypto-Assets Regu

Executive Summary 2026 marks a pivotal year for EU Crypto-Asset Service Providers (CASPs), marking the culmination of a multi-year effort to establish comprehensive regulation for digital assets. The transitional “grandfathering” period under MiCA, as per Article 143(3), ends on July 1, 2026, removing legacy buffers and implementing a uniform licensing and conduct system across the Union. Meanwhile, the Digital Operational Resilience Act (DORA), which has been effective since

Executive Summary 2025 marks a pivotal shift for digital assets and financial markets, moving from regulatory development to strict...

Executive Summary This report analyses the potential implications of the recent UK cabinet reshuffle on the nation's digital market...

March 2025 witnessed significant regulatory advancements in the global financial sector, particularly concerning digital finance. Key...

Executive Summary The Chancellor's Mansion House 2024 speech and accompanying documents signal a significant shift in the UK's approach...

The European Securities and Markets Authority (ESMA) has set an ambitious agenda for 2025, with a work program that covers a wide range...

The digital landscape underwent significant changes in 2024 as regulators worldwide tightened their control over the industry. Every...

The financial services landscape is grappling with various operational challenges, from cyberattacks and third-party failures to the...

A recent system crash experienced by CrowdStrike's Falcon sensor, as detailed in their technical root cause analysis, serves as a stark...

The United Kingdom is forging a comprehensive regulatory framework for digital assets and markets to balance innovation, consumer...

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

The European Banking Authority (EBA) has unveiled its 2025 supervisory priorities, emphasising the significance of the Digital...

The Digital Operational Resilience Act (DORA) sets a new standard for cyber resilience in the EU's financial sector. One of its most...

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

The financial sector increasingly relies on technology to deliver essential services in the ever-evolving digital landscape. This...