Topic: Cryptoassets cryptocurrencies stablecoins and cbdcs

The UK Government has published draft legislation to establish a regulatory framework for cryptoassets, and the Financial Conduct Authority (FCA) has published discussion and consultation papers setting out its proposed approach to regulation.

The recent judgment in Standard Bank of South Africa v South African Reserve Bank and Others (047643/2023) [2025] ZAGPPHC 481 (15 May 2025) highlights the urgent need for legislative reform to address the treatment of cryptocurrencies within South Africa’s exchange control framework.

When a virtual asset transaction is claimed to cause injuries to a plaintiff, what kind of causation must be shown between the injury and persons having some relationship to the transaction in order for the plaintiff to get relief from them?

As the world of cryptocurrency continues to evolve, understanding the legal landscape is more crucial than ever. Gain a deeper understanding of how different jurisdictions are addressing the complexities of crypto disputes.

In the latest edition of our podcast series, Split the Difference, Jonathan Herbst, Hannah Meakin, Anna Carrier and Simon Lovegrove cover the draft UK legislation for regulating cryptoassets and recent FCA discussion paper and compare it with the EU Regulation on markets in cryptoassets regulation.

On 21 May 2025, Hong Kong’s Legislative Council passed the Stablecoins Bill (Bill) to establish a new regulatory regime for activities involving fiat-referenced stablecoins, which is set to take effect by year-end. First gazetted on 6 December 2024, the Bill has since undergone a series of technical and textual amendments, which we discuss below.

On March 27, the Autorité des marchés financiers (AMF, Quebec’s financial markets regulator) published proposed amendments (the Amendments) in a publication titled Regulation to amend Regulation 81-102 respecting Investment Funds pertaining to crypto assets.

On 29 April 2025, HM Treasury (HMT) published a draft statutory instrument (SI), the Financial Services and Markets Act 2000 (Regulated Activities and Miscellaneous Provisions) (Cryptoassets) Order 2025, which sets out provisions to create a new regulatory regime for cryptoassets. An accompanying draft policy note has also been published.

The first two months of the second Trump administration have seen a burst of significant shifts in crypto regulation and policy.

Le 20 février 2025, le Bureau du surintendant des institutions financières (BSIF) a publié le Régime au regard des normes de fonds propres et de liquidité visant les expositions sur crypto actifs (banques) – Ligne directrice (la ligne directrice applicable aux banques) ainsi que le Régime au regard des normes de capital visant les expositions sur crypto actifs (assurance) – Ligne directrice (la ligne directrice applicable aux assureurs, et avec la ligne directrice applicable aux banques, les lignes directrices).