UK House of Lords passes amendment requiring digital asset strategy

The UK House of Lords passed an amendment to the Financial Services and Markets Bill requiring the government to formulate a digital asset strategy covering cryptocurrencies, stablecoins, and tokenized securities, Cointelegraph reported. The amendment passed on Sept. 9 by a vote of 194 to 138, according to the report. Under the amendment, the Treasury would have to prepare, publish, and seek feedback on the strategy within 12 months after the bill becomes law. The measure was opposed by the government and must still return to the House of Commons for reconsideration, where lawmakers can accept, revise, or reject it.