The Financial Services and Markets Act 2023, a United Kingdom statute that updates the framework for financial services regulation after departure from the European Union. It grants regulators new powers, including over digital assets.
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- The Financial Services and Markets Act 2023 received Royal Assent in June 2023. It revokes retained European Union law in financial services and gives United Kingdom regulators authority to set rules tailored to domestic markets.
- Among its provisions, the Act brings certain cryptoassets and stablecoins within the regulatory perimeter and establishes a framework for financial market infrastructure sandboxes.