News & Analysis as of

United Kingdom Digital Wallets

Hogan Lovells

Payments and the UK government’s pro-growth agenda: FCA seeks feedback on potential changes to contactless limits

Hogan Lovells on

Following the FCA’s January 2025 response to the government’s request for ideas to support its growth mission for the UK economy, the FCA has now published an engagement paper seeking feedback on the different ways that it...more

Hogan Lovells

Big Tech and digital wallets: Regulatory perimeter under review following feedback to UK FCA and PSR call for information

Hogan Lovells on

Potential issues identified from stakeholder feedback to the FCA and PSR call for information include insufficient competition between digital wallets and between payment systems within digital wallets. The majority of...more

A&O Shearman

UK regulators publish feedback statement on big tech and digital wallets

A&O Shearman on

The UK Financial Conduct Authority (FCA) and the UK Payment Systems Regulator (PSR) have issued a joint feedback statement on the usage and impact of big tech and digital wallets (FS25/1). The feedback statement was...more

Hogan Lovells

Big Tech and digital wallets: UK PSR and FCA publish call for information

Hogan Lovells on

The Payment Systems Regulator (PSR) and the Financial Conduct Authority (FCA) have launched a joint call for information on the opportunities and risks of digital wallets for people and businesses. This comes as recent data...more

BCLP

Courts at the Forefront of Innovation - Creating New Options for Service and Enforcement in Digital Asset Fraud Cases

BCLP on

Financial fraud is one of the most corrosive forms of corruption. Digital assets, and particularly cryptocurrency, are a ripe target for fraud. Frauds involving digital assets have grown significantly in recent years....more

BCLP

Courts at the Forefront of Innovation - US and UK Approaches to Service and Enforcement in Digital Asset Fraud Cases

BCLP on

Fraud involving digital assets, specifically cryptocurrency, is rapidly increasing on both sides of the Atlantic. In the UK, the value of reported crypto-fraud increased 41% between 2022/2023 reaching a record £306m, whilst...more

Latham & Watkins LLP

Blockchain Networks Beginning to Allow Enforcement of Court Orders

Latham & Watkins LLP on

Bitcoin Association for BSV will release software to facilitate court orders to freeze stolen or lost coins, while some courts recently authorised service proceedings by tokenised airdrop. Earlier this year, in Tulip...more

BCLP

A rag-bag of changes to UK money laundering regulations

BCLP on

UK regulations implementing the EU 5th Money Laundering Directive (“5MLD”) came into force on 10 January 2020: the Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (“MLR 2019”). The regulations make a...more

Robins Kaplan LLP

Financial Daily Dose 12.13.2019 | Top Story: US Announces Phase One Trade Agreement With China, But No Confirmation From Chinese

Robins Kaplan LLP on

The US and China have reportedly reached an initial agreement on the “final terms of a phase one trade deal, moving both countries closer to signing a pact that” the White House originally announced in October and averting...more

A&O Shearman

UK Regulator Finds E-Money Firms Have Effective Anti-Money Laundering Controls

A&O Shearman on

The Financial Conduct Authority has published a report on the outcome of its thematic review into money laundering and terrorist financing risks in the e-money sector. The report focuses on e-money products, including prepaid...more

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