The UK House of Lords passed an amendment to the Financial Services and Markets Bill in a 194–138 vote, requiring HM Treasury to establish a comprehensive digital asset strategy within 12 months. Supported by the opposition and industry groups but resisted by the ruling Labour government, the mandate aims to boost UK competitiveness against the US and EU. Meanwhile, the Bank of England updated its systemic stablecoin rules, requiring a 70/30 reserve split in favor of government debt.
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