UK Treasury Pushes to Ease Regulations on Eligible Stablecoin Transfers and Payments

The UK is moving to exclude simple remittances and cash exchanges using eligible stablecoins from certain digital asset trading regulations. On the 15th, the UK Treasury submitted the final draft of the 'Financial Services and Markets Act 2000 (Digital Assets) (Amendment) Regulations 2026' to Parliament. The draft has not yet been enacted. According to the draft, transactions using eligible stablecoins for personal accounts, agency transactions, and transaction facilitation will be exempt from regulation. However, lending, borrowing, and exchanges with other digital assets like Bitcoin may remain regulated. The boundary between payments and financial transactions will vary depending on the structure of receiving stablecoins. If the recipient has the right or obligation to return the stablecoins, the payment exemption does not apply. Temporary asset holding for payments may be excluded from custody regulations, but long-term holding may remain within the regulatory scope. Regulations on the promotion of financial products will also be adjusted, and amendments related to trading and facilitation are set to take effect from October 25 next year, pending parliamentary approval.

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