Crypto & Digital Assets APPG

Official account of the Crypto & Digital Assets All-Party Parliamentary (APPG) Group chaired by @gsjosan and @edvaizey. Secretariat provided by @CryptoUKAssoc.

[Crypto & Digital Assets APPG @cryptoappg]

The Crypto and Digital Assets APPG, supported by @CryptoUKAssoc as secretariat, recently wrote to HM Treasury and the FCA to raise concerns around transitional arrangements and regulatory readiness ahead of the UK’s new cryptoasset regime.

Following extensive engagement with industry, the APPG highlighted strong support for the UK’s ambition to become a global digital assets hub but also consistent concerns around the scale, pace, and complexity of transition into the new framework. The APPG also noted that firms will be required to move from the current AML regime to full FCA authorisation, meeting significantly higher standards across governance, financial resilience, risk management, safeguarding, and consumer protection, requiring substantial operational and financial change within a relatively short timeframe.

In its letter, the APPG Co-Chairs Gurinder Singh Josan MP (@gsjosan) and Lord Vaizey of Didcot (@edvaizey) asked whether transitional or phased implementation measures could support a smoother transition, while also seeking clarity on FCA resourcing and readiness to manage authorisations and supervision effectively from day one.

HM Treasury, in its response, said the current timeline “strikes the right balance”, with firms given over a year to secure authorisation ahead of the regime going live in October 2027. It also highlighted FCA support measures and ongoing investment in regulatory capability.

The FCA said it is actively considering transitional arrangements and continues to prepare for the volume and complexity of applications, while building specialist capability and supporting firms through engagement, guidance, and its upcoming Pre-Application Support Service.

The APPG will continue to work closely with industry, Government and regulators to help ensure the UK’s crypto regime is robust, workable, and supports growth while maintaining high standards.

If you would like to review all three letters, you can find them on CryptoUK's website: https://t.co/pEBno54ltK

[Crypto & Digital Assets APPG @cryptoappg]

Yesterday, the Crypto and Digital Assets APPG, co-chaired by @edvaizey and @gsjosan, hosted a US delegation from @DigitalChamber in Parliament, supported by @CryptoUKAssoc.

UK parliamentarians and US & UK industry leaders discussed regulatory developments in both countries, opportunities for deeper transatlantic collaboration, and how to build a digital assets ecosystem that delivers strong consumer protection while supporting innovation, growth and investment.

Read more: https://t.co/UlmM4xGlsP

Thank you to everyone who joined us from: @UKParliament, @UKHouseofLords, @CryptoUKAssoc, @DigitalChamber, @socios, @B2C2Group, @Lukka, @bitcoinhodlco, @CoinTracker, @ZuberLawler, @WisdomTreeEU, @particula_io, @BGameAlliance, @binance, and @AlliumLabs.

[Crypto & Digital Assets APPG @cryptoappg]

This week, the Crypto and Digital Assets APPG - co-chaired by Lord Vaizey (@edvaizey) and Gurinder Josan MP (@gsjosan) - held its first industry roundtable of 2026 in Parliament.

Chaired by Lord Vaizey, the discussion featured Yasmin Johal (@CMS_law), Ian Taylor (@CryptoUKAssoc) and Dean Sovolos (@B2C2Group), focusing on the UK’s proposed crypto regime, regulatory gaps and barriers to investment, and the approach of other countries including the US.

Key themes included UK–US cooperation, the pace of regulation, resourcing regulators, and the risk of the UK falling behind as the US moves faster and attracts capital.

The APPG remains the leading forum in Westminster for parliamentary–industry dialogue on crypto and digital assets, and will continue to host further sessions throughout the year.

Thank you to all those who took the time to join and contribute to the session: Rebecca Rogers (@B2C2Group), Freddie New (@bitcoinhodlco), James Newman (@socios), Sam Robinson (@CMS_law), Laura Knight (@KnightbridgeTax), Sarah Tomalewicz (@Bullish), Chrislyn Pereira (@eunice_ai1), Devina Paul (@zumopay), Monique Pettigrew (@bitwise), Timothy Cant (@ashurst), Nigel Brahams (Collyer Bristow), Heather O. (@FSCom1), Steve Martin (@GreengageCo), James Kaufmann (@HillDickinson), Ali Shaikha (@notabene_id), Bhavesh Panchal and Samantha Wood (@Paul_Hastings), Brett Hillis (@reedsmithllp), Ian Silvera (@SECNewgateUK), Meghan Millward (@TLT_LLP), Joanna Rindell (@trilitech), Mykhailo Movchan (@WhiteBit), Ron Hammond (@wintermute_t), and Dovile Silenskyte (@WisdomTreeFunds).

[Gurinder Singh Josan CBE MP @gsjosan]

Last week, as co-chair of the @cryptoappg, I visited @DigitalChamber in Washington DC, USA - the largest USA based blockchain and digital asset trade association.

Met with Zunera Mazhar, Vice President of Policy and Anastasia Dellaccio, Executive Director of State and Regional Affairs to compare notes on progress of crypto & digital asset regulatory frameworks in the USA and UK.

Particularly pleased to visit as APPG secretariat, @CryptoUKAssoc, has now joined The Digital Chamber family.

[CryptoUK 🇬🇧 @CryptoUKAssoc]

In an interview with @TheBanker, Lord Ed Vaizey of Didcot (@edvaizey) stressed the importance of the UK needing to ‘move faster’ on crypto rules:

“The UK has made good progress in a number of areas but we still lack a comprehensive framework for crypto and digital assets….Industry is ready to deliver growth and innovation, but it needs consistent, co-ordinated rules to make that possible.”

Building on this, he pointed to the risks of falling behind:

“The UK has the talent, expertise and infrastructure to lead the world in digital finance, but progress has been slow while others have moved ahead……Here in the UK, firms still face fundamental barriers to growth and investment, specifically from slow licensing processes to difficulties accessing basic banking services…..That’s driving some companies overseas and leaving UK consumers exposed to unregulated markets.”

Looking ahead, he emphasised that political commitment must now be matched by action:

“The Labour government plans to introduce legislation for a crypto and stablecoin regime later this year but we need to move quickly….The next two years must focus on delivery, with government and regulators working in tandem to provide certainty for business and confidence for investors.”

[Crypto & Digital Assets APPG @cryptoappg]

Co-Chairs of the UK Parliament’s Crypto and Digital Assets All Party Parliamentary Group (APPG) have welcomed the passage of the Property (Digital Assets etc) Act after it was granted Royal Assent by His Majesty the King.

Gurinder Singh Josan CBE MP (@gsjosan), said:

“The passage of the Property (Digital Assets etc) Act is a landmark moment for the UK and a vital step towards a full and comprehensive regulatory framework for crypto and digital assets. With crypto ownership in the UK having almost trebled since 2021, this legislation provides the millions of people who own crypto in the UK with greater legal protections and clarity over their digital assets. By recognising digital assets in law, the UK is giving consumers clear ownership rights, stronger protections, and the ability to recover assets lost through theft or fraud. The Crypto and Digital Assets APPG will continue to champion strong consumer protections and ensure that legislation keeps pace with the rapid growth of digital assets.”

Lord Vaizey of Didcot (@edvaizey), added:

“The Crypto and Digital Assets APPG welcomes this important Act as a key milestone on the UK’s path to a complete regulatory framework for digital assets. Its passage into law delivers much-needed legal clarity for users of digital assets in the UK. With the Government committed to establishing a world-leading regime for crypto and digital assets, today’s development moves the UK decisively closer to that goal and sends a clear signal that we are serious about becoming a global hub for digital assets. The APPG will continue to press for a coherent, comprehensive regulatory framework that both protects consumers and gives industry the clarity it needs to innovate and thrive here in the UK.”

[CryptoUK 🇬🇧 @CryptoUKAssoc]

BREAKING: UK Law Now Officially Recognises Digital Assets 🇬🇧

The UK has today taken an important step forward in recognising the role of digital assets in the modern economy. A new law has come into effect confirming that qualifying digital assets — including crypto-tokens, stablecoins and NFTs — can be treated as property under UK law.

This change provides greater clarity and protection for consumers and investors by ensuring that digital assets can be clearly owned, recovered in cases of theft or fraud, and included within insolvency and estate processes. It marks a meaningful shift towards giving everyday holders the same confidence and certainty they expect with other forms of property.

Crucially, this development also strengthens the foundations for future innovation across the UK’s digital asset and tokenisation landscape. By providing a clear legal basis for ownership and transfer, the UK is now better positioned to support the growth of new financial products, tokenised real-world assets, and more secure digital markets. These legal protections help create the certainty businesses need to build responsibly and invest in long-term, consumer-focused innovation.

CryptoUK has consistently advocated for a clear and robust legal framework for digital assets, and we are pleased to see this important progress. We look forward to continuing our work with policymakers and industry to support the development of a competitive, responsible and future-ready UK market.

[Crypto & Digital Assets APPG @cryptoappg]

Speaking in the House of Lords today @edvaizey highlighted that the biggest risk facing the UK is the lack of regulation for crypto and digital assets.

With one in four Britons now trading crypto – and half of them under 35 – he emphasised that clear, proportionate rules are urgently needed to protect consumers and support innovation.

Responding, @SpenceLivermore, Financial Secretary to the Treasury, agreed on the importance of progressing legislation to unlock the benefits of digital assets and stablecoins for the UK economy.

[Crypto & Digital Assets APPG @cryptoappg]

This week, as the Bank of England published its consultation on the UK’s stablecoin regime, Baroness Neville-Jones, member of the UK Parliament’s Crypto and Digital Assets APPG, hosted representatives from @texasbankers - including CEO Chris Furlow - together with the APPG secretariat, @CryptoUKAssoc to discuss the rapidly evolving digital asset landscape in the UK and US.

The meeting came at a pivotal time for both jurisdictions, offering a timely discussion on the future of stablecoins, payments, and digital assets. Topics included the US GENIUS Act, the banking industry’s response and the evolving role of stablecoins in private sector payment systems. Participants also explored the UK’s progress on digital asset regulation, from the Conservative Government’s initial framework in 2022 to the Labour Government’s current comprehensive approach, and shared perspectives on recent regulatory actions and remaining barriers.

The session concluded with an open Q&A covering international comparisons, industry challenges, and opportunities for UK-US collaboration in shaping the future of digital finance.

[Crypto & Digital Assets APPG @cryptoappg]

Co-Chair of the UK Parliament’s Crypto and Digital Assets All Party Parliamentary Group (APPG) Lord Vaizey (@edvaizey) has today welcomed the Bank of England’s revised proposals on stablecoin regulations, however remains concerned over proposals to introduce caps on how much stablecoin individuals and businesses can hold.

“Today’s latest proposals on Stablecoins by the Bank of England are a significant step towards providing the clarity and certainty investors need to set up and scale up in the UK and helping to drive innovation, competitiveness, and economic growth.

It’s encouraging that the Bank has listened to industry feedback and revised some of its earlier proposals whilst also committing to deliver a UK regime as quickly as the US. These changes send a positive signal that the UK wants to be competitive in digital finance.

Whilst I welcome the proposed exemptions from holding limits for large retailers and intermediaries, I remain concerned about the proposals to introduce caps on how much stablecoin individuals and businesses can hold - an issue I raised recently in the House of Lords. No other major jurisdiction has such limits, and despite assurances they are temporary, there is no timeline for when they would be lifted.

While managing financial stability risks is essential, we must ensure regulation enables innovation, not inhibits it. The Bank’s consultation marks an important step forward, but the UK must strike the right balance by creating a regime that is both safe and ambitious enough to secure the country’s leadership in the future of digital money.”

[Crypto & Digital Assets APPG @cryptoappg]

You can find the question for Treasury here: https://t.co/4u4aZCzQ1E

[Crypto & Digital Assets APPG @cryptoappg]

This week, valued member of the Crypto and Digital Assets APPG, Lord Taylor of Warwick (@Lord_ofWarwick), urged the UK Government to strengthen its crypto regulatory framework to tackle growing global inconsistencies.

In a question raised in the House of Lords, Lord Taylor asked what steps the Government is taking to enhance the UK’s framework for cryptoassets and mitigate risks arising from fragmented international regulation.

His comments follow recent warnings from the Financial Stability Board (FSB) - the G20’s risk watchdog - and others, highlighting “significant gaps” in global crypto oversight that fail to address cross-border risks.

Responding, Treasury Financial Secretary Lord Spencer Livermore (@SpenceLivermore) confirmed that legislation will be introduced this year to establish a comprehensive financial services regulatory regime for cryptoassets. He also reaffirmed the UK’s commitment to working closely with international partners through the FSB to strengthen global standards.

[Crypto & Digital Assets APPG @cryptoappg]

Co-Chair of Parliament’s Crypto & Digital Assets APPG, Gurinder Singh Josan CBE MP (@gsjosan), said last week the UK can still be a world leader in digital assets.

With more than 8 million people in the UK now holding crypto, Mr Josan called on the Government to move quickly on regulation that both supports innovation and protects consumers.

[Crypto & Digital Assets APPG @cryptoappg]

Co-Chair of Parliament’s Crypto & Digital Assets APPG, Lord Ed Vaizey (@edvaizey), recently urged the UK Government to rethink proposed stablecoin ownership caps, warning they could push innovation overseas. He said the Bank of England’s limits “send the wrong message” and called for transparency on its modelling.

[Crypto & Digital Assets APPG @cryptoappg]

“Crypto isn’t coming, it’s already here [...] The sector is growing fast, consumer adoption has doubled since 2021, and other countries are racing ahead with regulation.”

In this article written by @EricJohanssonLJ of @dlnews, Crypto and Digital Assets APPG co-chairs Gurinder Singh Josan MP (@gsjosan) and Lord Vaizey of Didcot (@edvaizey) warn that without meaningful legislation, the UK risks losing jobs, investment, and consumer protection as businesses look abroad.

With other regions pressing ahead — from the EU’s MiCA framework to fresh US bills — industry leaders argue Britain cannot afford to fall further behind. The group’s revival comes as crypto adoption among UK adults has tripled since 2021, underscoring the urgency for regulatory clarity.

Read the full article here: https://t.co/zbRuEYobFs

[Crypto & Digital Assets APPG @cryptoappg]

In support of @George_Osborne’s warning that the UK has been “completely left behind” on crypto regulation, Crypto & Digital Assets APPG Co-Chairs Lord Vaizey of Didcot (@edvaizey) and Gurinder Singh Josan MP (@gsjosan) are calling for urgent government action.

In their open letter to the @FT, they highlight two major barriers: restoring access to banking for licensed crypto firms, and speeding up authorisations — warning that “the Financial Conduct Authority has only registered 51 companies. That’s shockingly low for a G7 economy.”

If you are an @FT subscriber, you can read the letter in full here: https://t.co/eGigZ2K7lL

The APPG, supported by CryptoUK as its secretariat, works to scrutinise the UK’s approach to crypto regulation and recommend a clear, competitive framework that supports innovation while protecting consumers.

Learn more about the APPG: https://t.co/XCFWvWvuI0

[CryptoUK 🇬🇧 @CryptoUKAssoc]

Former Chancellor @George_Osborne has warned that the UK risks being “completely left behind” in the global race for crypto leadership. Writing in the @FT, Osborne compared the digital asset revolution to Nigel Lawson’s Big Bang in the 1980s and urged the Government to introduce a clear legislative framework for crypto and stablecoins.

He argued that Britain has become “too risk averse,” with policymakers and regulators adopting a cautious stance that has slowed progress. Osborne criticised the lack of clear legislation — contrasting this with the US Congress, which has passed the GENIUS Act — and warned that other jurisdictions, including the EU, Singapore, Hong Kong and Abu Dhabi, are “stealing a march” on Britain. He also highlighted that the Bank of England’s restrictive approach to pound-backed stablecoins risks making them commercially unattractive, leaving the UK on the sidelines of a $250bn global market dominated by US dollar-pegged tokens.

Against this backdrop, however, there are some significant signs of movement. In Parliament, Treasury Minister @SpenceLivermore confirmed that final legislation to establish a UK regulatory regime for cryptoassets — including pound-backed stablecoins — will be introduced this year. He emphasised that the Government views stablecoins as a driver of growth and competitiveness, positioning the UK to collaborate internationally on shaping digital asset markets.

@TheFCA is also strengthening its expertise, appointing Anurag Bajaj as senior adviser for payments and digital assets. Bajaj brings two decades of experience in payments, cross-border banking and fintech, reflecting a growing focus on building regulatory capacity.

At CryptoUK, we welcome these developments as positive steps towards establishing a clear and competitive regulatory framework. However, we echo the view that the UK must act with greater urgency. The global race to set the rules for digital assets is accelerating, and the UK has a unique opportunity to lead — but only if progress on legislation and regulatory clarity keeps pace.

One important forum helping to drive this agenda forward is the All-Party Parliamentary Group (APPG) for Crypto and Digital Assets (@cryptoappg), which has recently been relaunched. Jointly chaired by Labour MP Gurinder Josan CBE (@gsjosan) and Lord Vaizey of Didcot (@edvaizey), the APPG brings together MPs, Lords, policymakers, and industry leaders to scrutinise the UK’s regulatory approach and make recommendations on how to build a world-leading framework for digital assets.

Supported by CryptoUK as secretariat, the APPG plays a vital role in shaping discussions on key issues such as fostering innovation, tackling fraud, improving access to banking services, and ensuring robust consumer protections. With other jurisdictions moving quickly, its work will be critical to ensuring the UK keeps pace and remains competitive.

Find out more about the APPG and its work here 👉 https://t.co/KULHRI3WRS

[Crypto & Digital Assets APPG @cryptoappg]

🇬🇧 UK Crypto & Digital Assets APPG Chair, Gurinder Singh Josan CBE MP, met with U.S. industry leaders to explore global best practice on digital Asset regulation: https://t.co/snU9XG4jFR

[Crypto & Digital Assets APPG @cryptoappg]

The Crypto & Digital Assets APPG has relaunched in Parliament with Gurinder Josan MP (@gsjosan) & Lord Vaizey (@edvaizey) as co-chairs, continuing its vital work to help shape the UK’s crypto and digital assets sector. Find out more: https://t.co/stz77RyABT

[Crypto & Digital Assets APPG @cryptoappg]

Following the dissolution of Parliament on 30th May 2024, the Crypto and Digital Assets APPG has temporarily ceased to exist and has paused all activity until the new Parliamentary term. The Group will be reconstituted following the State opening of Parliament on 17th July.