part one of two
Financial Services Bill: Reflections
After hundreds of hours of debate, thousands of words drafted and spoken, we have passed the Financial Services Bill through the House of Lords.
It now goes back to the Commons, for consideration of our amendments, before being finally agreed then off to the Palace for Royal Assent.
Learnings from the Bill, many. Work still to do, much.
From a crypto perspective, it seemed, as is often the case, many of my amendments relating to fintech – including, for example, consideration of blockchain-based tools for transaction reporting requirements under the Markets in Financial Instruments Directive (MiFID), a mandatory regime for open finance, action on Digital ID, AI officers – appeared just too early for the Government’s taste.