Digital payments and CBDCs

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This overview is a guide to the Financial Services content within the Digital payments and CBDCs subtopic, with links to appropriate materials.

What are digital assets, cryptoassets and stablecoins?

The term ‘digital asset’ is defined in the UK Law Commission’s Digital Assets: Consultation paper as meaning any asset that is represented digitally or electronically. There are many different types of digital assets and include ‘cryptoassets’.

The term ‘cryptoasset’ is used as described in section 417 of the Financial Services and Markets Act 2000 (FSMA 2000) (as inserted by section 39 of the Financial Services and Markets Act 2023), as meaning—any cryptographically secured digital representation of value or contractual rights that:

  1. •

    can be transferred, stored or traded electronically,

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Latest Financial Services News

Amendments to the treatment of securitisation exposures under the Liquidity Coverage Ratio Delegated Regulation

The European Commission has published a consultation on a draft Commission Delegated Regulation setting out amendments to Commission Delegated Regulation (EU) 2015/61 (the LCR Delegated Regulation) on liquidity coverage requirements for credit institutions. The consultation is open for feedback for four weeks until 15 July 2025.

Upper Tribunal upholds FCA decisions in the case of Craig Donaldson and David Arden

The Upper Tribunal (Tax and Chancery Chamber) (the Upper Tribunal) has upheld the FCA’s decisions that Craig Donaldson and David Arden, former chief executive (CEO) and chief financial officer (CFO) of Metro Bank PLC (Metro Bank), were knowingly concerned in a breach of Listing Rule 1.3.3R by Metro Bank. The FCA’s Decision Notices were published in November 2022 and the two individuals appealed them to the Upper Tribunal. The Upper Tribunal has decided that fines of £167,325 and £100,950 should be imposed on Mr Donaldson and Mr Arden, respectively.

EIOPA reveals findings from first EU mystery shopping exercise on insurance investment products

The European Insurance and Occupational Pensions Authority (EIOPA) has published results from its first EU-coordinated mystery shopping exercise examining insurance-based investment products (IBIPs) sales processes across eight EU member states. The exercise, conducted between January–November 2024, involved 454 visits by trained shoppers to insurers, banks, agents, brokers and post offices.

Financial Services—other developments (17/6/2025)

A round-up of other developments, which have not been covered in full by the LexisNexis Financial Services practical guidance team but may nevertheless be of interest.

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