FSM Bill completes Commons committee stage

The FSM Bill has completed the committee stage in the House of Commons and Parliament has published a revised version of the Bill. Of the amendments tabled in the committee stage, the following have been added to the Bill:

• the PSR Chair to be a member of the FCA Board; and
• amending FSMA to clarify that the powers relating to fin proms and regulated activities can be relied on to regulate crypto. Cryptoasset is also defined, with a power to amend the definition.

The Bill will now enter its report stage where it can be debated further. The date for the report stage has not yet been scheduled.