Bearish (Margin Compression): The UK FCA’s transition to full FSMA authorisation enforces traditional institutional standards on crypto operations, thereby structurally raising the baseline cost of compliance and increasing capital-holding requirements. Neutral (Third-Party Risk): Revised US interagency guidelines on model risk establish updated principles for large traditional banks. Generative and agentic AI are explicitly excluded, meaning CASPs face only routine, downst

Executive Summary This week's regulatory developments emphasise a continued focus on strong governance frameworks, the implementation of...

Executive Summary This week's key regulatory updates show increased focus on consumer protection, operational resilience, and new...

1. Executive Summary This week was marked by a significant volume of policy announcements from UK authorities, collectively known as the...