EU public consultation on tackling the role of enablers

The European Commission has also considered applying a new beneficial ownership reporting requirement for EU taxpayers, which would introduce the disclosure of ownership or control above 25 per cent of shares, voting rights, ownership interest, bearer...

HMRC consults taxation of decentralised finance

The government aims to establish clear tax and regulatory treatment of cryptoassets to place the UK at the forefront of safe, sustainable, and rapid innovation in cryptoasset and blockchain technologies. DLT uses cryptography to maintain a decentralised database...

Basel on bank’s cryptoasset exposures

Basel Committee publishes second consultation document on the prudential treatment of banks’ cryptoasset exposures. Unbacked cryptoassets and stablecoins with ineffective stabilisation mechanisms continue to be subject to a conservative prudential...

HM Treasury consultation outcome on MLRs

HMT publishes outcome of consultation on proposals to make some time-sensitive updates to the MLRs, required to ensure that the UK continues to meet international standards, whilst also strengthening and ensuring clarity on how the AML regime operates…

HMT on SM&CR for Financial Market Infrastructures

The main objectives in the proposals outlined in the consultation were to strengthen the individual accountability of senior managers within FMIs and provide an effective and proportionate means for promoting high standards of conduct amongst all staff…