“Cryptoassets Regulation – Payment Stablecoins” is an authoritative digital guide that delves into the regulatory framework established by the Financial Services and Markets Act 2023 (FSMA 2023) concerning payment stablecoins and digital settlement assets (DSAs).

This comprehensive resource offers an in-depth analysis of the following key areas:

• Definition and Scope of Digital Settlement Assets: An exploration of the FSMA 2023’s definition of DSAs, encompassing digital representations of value or rights that can be used for payment settlements, electronically transferred, stored, or traded, and utilize technology supporting data recording or storage.
• Regulatory Authority and Powers: Insights into HM Treasury’s authority to regulate payments involving DSAs, including the power to extend electronic money and payment regulations to DSAs, amend insolvency arrangements, and confer powers on relevant regulators.
• Insolvency and Administration Procedures: An overview of the amendments to insolvency and administration procedures under the Banking Act 2009, specifically tailored to operators of recognised payment systems and service providers using digital settlement assets.
• Regulatory Procedures and Enforcement: A detailed examination of the procedures for implementing regulations, including the affirmative procedure, and the enforcement mechanisms available to regulators to ensure compliance within the digital settlement asset landscape.

This guide is essential for professionals and stakeholders in the financial sector seeking a thorough understanding of the UK’s regulatory approach to payment stablecoins and digital settlement assets, providing clarity on compliance obligations and best practices.

Disclaimer:

This digital download is intended for informational purposes only and does not constitute legal or financial advice. The regulatory landscape surrounding digital settlement assets and payment stablecoins is continually evolving. While this guide offers a comprehensive overview based on current regulations, it is crucial to consult with legal and financial professionals to ensure compliance with the latest laws and regulations.