- The 12 February 2026 deadline for firms to respond to the FCA’s consultation papers (CPs) on the future UK regulatory regime for cryptoassets is fast approaching.
- While
UK Cryptoasset Regime: What to Know About the FCA Consultation Papers
OCC Proposes Regulation to Clarify Permissible Activities for Trust Banks
- The Proposal would amend the OCC’s chartering regulations to clarify that national trust banks are not limited to fiduciary activities as defined by the OCC.
- If adopted as proposed, the Proposal would further increase the attractiveness
SEC Staff Provides Clarity on the Custody of Cryptoasset Securities
- The 2025 Crypto Custody Statement clarifies how broker-dealers can maintain “physical possession” of cryptoasset securities under the Customer Protection Rule, although does not provide further clarity on how broker-dealers can establish “control.”
- Private key protection is crucial, ensuring broker-dealers maintain exclusive
FDIC Issues Proposal to Implement GENIUS Act
- The Proposal would align stablecoin issuer reviews to five statutory factors, including the ability to meet reserve and disclosure requirements, management fitness and competence, and a clear, timely redemption policy.
- The FDIC may deny an application only
UK Cryptoasset Regime: Key Takeaways From the Final Draft Statutory Instrument
- On 15 December 2025, HM Treasury published the final draft statutory statement (the SI) setting out how activities in relation to qualifying cryptoassets (QCs) will be regulated in the UK.
- The SI amends primary and secondary legislation to incorporate QCs and new specified cryptoasset activities
FCA Publishes Update to Cryptoasset Gateway
The update will create significant time pressure for firms seeking UK authorisation.
By Stuart Davis and Gabriel Lakeman
On 8 January 2026 the FCA published an update on the cryptoasset gateway (the Gateway) for firms seeking approval under the future regulatory regime for cryptoasset activities.1 The timings set out by the FCA will create significant time pressure on firms to prepare and submit applications earlier than many stakeholders in the industry anticipated.
Many stakeholders had been expecting that the
SEC Staff Issues No-Action Letter for DTC’s Tokenization Pilot
- The no-action letter permits DTC to run a pilot program for asset tokenization under strict guardrails for a three-year period. DTC has committed to extensive reporting obligations and operational safeguards during the pilot.
- DTC participants with registered wallets will
OCC Continues to Move Digital Assets Into the Banking System
- The OCC affirmed that national banks may conduct riskless principal transactions in cryptoassets, when conducted in a safe and legally compliant manner.
- The OCC affirmed banks’ ability to pay blockchain network fees
SEC Staff Issues No-Action Letter for Fuse Crypto Token
- Pursuant to the NAL, transactions in Fuse Tokens will not be considered to involve securities requiring registration under the securities laws.
- The Fuse Token is designed for consumer utility, and not for capital raising, profit, or speculative
Latham & Watkins Launches UK Cryptoasset Regulatory Tracker
An interactive online resource covering the UK’s rapidly evolving cryptoasset landscape.
By Stuart Davis, Gabriel Lakeman, and Emma Trankeenan
Latham & Watkins has launched the UK Cryptoasset Regulatory Tracker, a new online resource that provides cryptoasset businesses with critical information to help them navigate the latest regulatory developments in cryptoassets.
The UK framework for cryptoassets is shifting, with significant regulatory and legislative developments expected in 2026. The UK government has published draft legislation for cryptoassets, which