Skip to main content

Clifford Chance
All
Banking & finance<br />

Banking & finance

Talking Tech

Featured

Alternative Text

Banking & Finance

Digital settlement assets - the next stage in UK cryptoasset regulation

The Financial Services and Markets Bill introduces powers for HM Treasury (HMT) to bring stablecoins used as means of payment and similar "digital settlement assets" within scope of regulation. Most details of the new regime are left to be fleshed out by HMT, who confirmed their intention to regulate stablecoins used as a means of payment earlier in 2022 and plans to consult on its approach to regulating other types of cryptoassets later in 2022. Therefore, whilst the broad shape of the UK regulatory regime for cryptoassets is emerging, attention will turn to HMT and the regulators for further clarity on the precise scope and structure of the regime. This staged approach to UK cryptoasset regulation is in contrast to the more comprehensive approach taken in the EU under MiCA.
Alternative Text

Fintech

Hong Kong to allow retail access to virtual asset ETFs and considering legalizing retail virtual asset exchanges

Hong Kong announced several fundamental virtual asset-friendly changes to the city's regulatory stance towards virtual assets, including the relaxation of rules surrounding retail access. The Hong Kong Government issued a policy statement on 31 October 2022 in conjunction with the city's flagship Hong Kong Fintech Week conference, which unveiled several key changes to the city's regulatory stance towards virtual assets (VA), in particular allowing retail access to VA futures ETFs, and launching consultation on the degree of retail access to VA, among other updates.
Alternative Text

Banking & finance

UK Financial Services and Markets Bill: new rules for 'critical third parties'

The UK Financial Services and Markets Bill includes proposals to regulate cloud service providers and other designated ‘critical third parties’ supplying services to UK regulated firms and financial market infrastructures. HM Treasury would have powers to designate service suppliers as ‘critical’ and the UK regulators would have new powers directly to oversee designated suppliers, which would be subject to new minimum resilience standards.

Fintech

Japan to have world's first clear regulatory framework for stablecoins

This new framework has been developed following international discussions triggered by the announcement of the Diem (Libra) concept back in 2019. In May 2022, TerraUSD, an algorithmic stablecoin which was supposed to be pegged to the U.S. dollar, lost its dollar peg, collapsed and sent shockwaves through the crypto market. Regulators all over the world claim a focused regulatory framework is now urgently needed.

Ethereum Merge – What is at Stake?

To reduce environmental impact, increase security and improve scalability in the network, Ethereum has proposed a series of upgrades. On 15 September 2022, in a highly anticipated upgrade called "The Merge", the Ethereum Mainnet shifted from a Proof of Work (PoW) consensus mechanism to a Proof of Stake (PoS) consensus mechanism.The Merge is the second of a three stage upgrade process and is widely seen as one of the most significant events in the crypto industry to date in the search for a more scalable, energy efficient and publicly accessible Ethereum.

Popular Videos

Hot Topic - Risk

SEC Enforcement Action Against First American Underscores Importance of Accurate Disclosures of Cybersecurity Risk
Cyber

SEC Enforcement Action Against First American Underscores Importance of Accurate Disclosures of Cybersecurity Risk

First American agrees to pay $500,000

READ
SEC Fines Eight Firms for Deficient Cybersecurity Practices
Cyber

SEC Fines Eight Firms for Deficient Cybersecurity Practices

Issues warning about importance of robust policies and procedures and accurate disclosures

READ
OFAC Risk
Fintech

OFAC Risk

Isn't virtual for digital currency payment processors

READ
fintech-coins-of-various-cryptocurrencies

New GFMA Paper by BCG and Clifford Chance Outlines Benefits and Challenges of Wholesale Central Bank Digital Currencies

The paper outlines the opportunities, challenges, and questions concerning the design, issuance, and legal status of wCBDCs, while introducing use cases to provide a framework for continuing a constructive conversation.

 READ on AFME WEBSITE
See all our banking and finance content

Upcoming events

20 Sept 2025: Stablecoins – navigating the evolving global regulatory framework

New frameworks for stablecoins are emerging across global financial centres, including the US GENIUS Act for payment stablecoins, Hong Kong’s new regime for stablecoin issuers and a developing UK framework. As regulatory clarity grows, so do opportunities to leverage stablecoins for fast, cost-effective cross-border payments and transaction settlement, enhanced liquidity and collateral use. Join our international panel as they explore how different jurisdictions are approaching stablecoin oversight, including the lessons learned from more established regulatory frameworks such as the EU’s Markets in Crypto-Assets Regulation (MiCA), highlight key compliance challenges, and look at the future of stablecoin adoption.

08:00 EDT | 13:00 BST | 14:00 CEST | 20:00 HKT

 

 Register
See all our events

Log in