HMT: Future of payment services regulation
HMT has announced further details on how it intends to modernise payment services regulation, ahead of a soon-to-be published consultation. The package includes: improving the regulation of payment services and electronic money by establishing a single framework for both traditional and tokenised payments, including both stablecoins and tokenised deposits; regulating stablecoins for their use in payments; considering how the regulation of payments services should adapt to payments conducted by AI agents; providing FCA with new powers to regulate the future of Open Banking; bringing forward legislation to cut administrative burdens for companies wanting to provide stablecoin payments.
Last updated · 23 Apr 2026
Regulatory News - Financial Services & Regulation
See allHoL Financial Services Regulation Committee: Stablecoins – waiting for regulation
The Committee has now published its report. Amongst other matters, it concludes that the UK is currently lagging behind in developing its regulatory regime compared to the USA and EU and that there are some elements of the UK’s proposed regime which would diverge from international equivalents, including in requirements for systemic issuers to hold unremunerated backing assets, the proposed stablecoin holding limits, and the restrictions on commercial banks issuing stablecoins; The report sets out a number of recommendations for the authorities, including consideration of whether the existing legal frameworks are sufficient to detect and deter illicit activity using private unhosted and unregulated wallets.
FCA: Sponsorship arrangements between football clubs and unauthorised firms
FCA has raised concerns that a number of unauthorised firms, including crypto businesses and trading platforms, are using sponsorship and may be breaching UK financial services laws by providing financial services in the UK without authorisation. FCA has written directly to football clubs, mainly in the Premier League, to warn about their relationships with these firms and remind them of their responsibilities to fans.
The Financial Services and Markets Act 2023 (Commencement No. 14) Regulations 2026/587 (C47)
These Regulations bring into force on s1(1) FSMA so far as it relates to the revocation of certain instruments relating to short selling which are referred to in Schedule 1 to the Act. (Date in force: 13 July 2026)
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FCA: Introduction to anti-money laundering regulations – responses to questions from firms
FCA has published Q&As covering various aspects of the new regime.
BIS: Information and communication technology risk management – range of practices
The Basel Committee has analysed ICT risk management practices across jurisdictions to address non-malicious ICT incidents. Its report aims to support banks in developing robust ICT risk management frameworks.
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