The International Regulatory Strategy Group (IRSG) would like to share its concerns, in line with other industry representatives, on the cloud sovereignty requirements which are currently being discussed as a key element of the EU Cybersecurity Certification Scheme for Cloud Services (EUCS).
TheCityUK response to HM Treasury's draft SI – ‘The Financial Services and Markets Act 2000 (Regulated Activities and Miscellaneous Provisions) (Cryptoassets) Order 2025’
Our response supports the aims of the SI to bring certain cryptoasset activities within the UK’s financial regulatory perimeter. However, we have identified several technical refinements that are necessary to achieve this effectively and avoid the likely unintended consequences of the current drafting.