What we think

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

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

Introduction: A ‘Multi-Money’ System and the Grand Bargain: Contextualising the November 2025 Consultation The Bank of England (BoE) consultation paper (CP) published on 10 November 2025, ‘Proposed regulatory regime for sterling-denominated systemic stablecoins’, represents a pivotal and pragmatic evolution in the United Kingdom’s approach to digital assets. This document is not a preliminary discussion; it is a mature, highly detailed, and commercially aware proposal. It has

I. Executive Summary This week’s developments signal an evolution in the regulatory environment, shifting from theoretical risk to tangible enforcement actions and notable strategic divergence among key jurisdictions. For Crypto Asset Service Providers (CASPs), the global landscape now presents three primary areas of focus that merit careful consideration for our operational, product, and legal strategies. Enforcement and AML/CTF Scrutiny.  The €21.46 million fine imposed by

Executive Summary September 2025 marked a critical phase in the maturation of the European Union’s digital asset regulatory landscape....

Executive Summary The year 2025 represents a watershed moment for digital asset regulation in the United States, marked by the...

Executive Summary The United Kingdom is executing a phased and comprehensive strategy to integrate digital assets into its established...

Global efforts to establish clear regulatory frameworks for digital assets gained significant momentum in May, with a concentrated focus...

There was significant regulatory activity in December 2024. Globally, on establishing comprehensive frameworks for digital assets,...

The FCA Crypto Roadmap outlines the planned policy publications and timelines for regulating crypto assets in the UK. It sets out a...

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

July 2024 marked a significant month for international reports addressing the evolving landscape of digital markets and assets. These...

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

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

The financial landscape is rapidly transforming, driven by technological advancements and evolving market dynamics. In July 2024, several...

Hong Kong is forging ahead in regulating stablecoins, establishing a comprehensive framework to foster innovation while ensuring investor...

The United Kingdom is taking steps to regulate the growing crypto-asset market, focusing on stablecoins. Here is a recap of the Financial...