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In AML & Financial Services Regulatory

United Kingdom: Treasury confirms stablecoin regulatory regime and sets out ambitions to be global crypto hub

by , , , and 10 Mins Read

At UK FinTech Week 2022 in April, the Treasury announced a host of new and forthcoming initiatives to build on the UK’s “FinTech success stories” and support its push to become the loading global hub for crypto businesses. The initiatives range from incubators (like the Financial Market Infrastructure Sandbox and the FCA’s CryptoSprint events), to industry engagement partnerships through a Cryptoasset Engagement Group, to reviews of the tax treatment of crypto and the legal status of Decentralised Autonomous Organisations. Most significant among the announcements is the Treasury’s confirmation that it will bring activities that issue or facilitate the use of stablecoins used as a means of payment into the UK regulatory perimeter.

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In Antitrust / Competition

Switzerland: Lex Booking – Switzerland further restricts the contractual freedom of online booking platforms

by 4 Mins Read

It is well known that online booking platforms often contractually restrict the freedom of accommodation providers to set their own prices for the accommodation offered (so-called “price-fixing clauses”). A newly adopted amendment to the Swiss Act against Unfair Competition (UCA) now limits these as well as other practices of online booking platforms

In Employment

United Kingdom: No plans to make menopause a protected characteristic under the Equality Act

by , and 1 Min Read

The Minister for Work and Pensions and Minister for Women has confirmed that the government is not currently planning to introduce menopause as a protected characteristic under the Equality Act or to implement dual discrimination. Instead, the government will consult the Equality and Human Rights Commission, and Acas, to assess whether improvements can be made to increase understanding of the law in this area.

In Sanctions

Canada Introduces Ban on the Provision of 28 Services to the Russian Oil, Gas and Chemical Industries, Including Technical, Management, Accounting, and Advertising Services

by , and 1 Min Read

Baker McKenzie’s Sanctions Blog published the alert titled Canada Introduces Ban on the Provision of 28 Services to the Russian Oil, Gas and Chemical Industries, Including Technical, Management, Accounting, and Advertising Services on 10 June 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.

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