UK House of Lords backs mandatory digital asset strategy

The UK House of Lords has voted to support an amendment that would require the Treasury to prepare a digital asset strategy within 12 months of the Financial Services and Markets Bill becoming law. The vote passed 194 to 138, despite opposition from the Labour government. The proposed strategy would cover cryptoassets, stablecoins, tokenized securities, and digital financial infrastructure. It would also address innovation, consumer protection, and access to banking, payments, and settlement services for firms in the sector. The bill now returns to the House of Commons, where lawmakers can accept, change, or reject the Lords’ amendment. The vote reflects ongoing debate in the UK over how to regulate digital assets and whether the country should focus only on oversight or on building a broader digital asset economy.