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On 29 November 2023, the Energy Savings Opportunity Scheme (Amendment) Regulations 2023 (“Regulations”), came into force, implementing a number of changes to Phase 3 of the Energy Savings Opportunity Scheme which requires in scope organizations to undertake a mandatory energy assessment of their UK energy consumption. As a result of the changes introduced by the Regulations, participants are required to include more information in the Phase 3 notifications of compliance that they are required to submit to the Environment Agency to confirm that they have completed their energy assessment.

Following its February 2023 consultation and call for evidence on a future financial services regulatory regime for cryptoassets, HM Treasury issued its policy statement on the wider cryptoasset regulatory regime on 30 October 2023. The policy update was published alongside a flurry of publications on the regulation of cryptoasset services, including interlinked policy documents covering regulation of fiat-backed stablecoins and the failure of systemic digital settlement asset (DSA) firms. This briefing covers the so-called “Phase 2” regulation of wider cryptoasset activities.

Following its February 2023 consultation and call for evidence on a future financial services regulatory regime for cryptoassets, HM Treasury issued its policy statement on the wider cryptoasset regulatory regime on 30 October 2023. The policy update was published alongside a flurry of publications on the regulation of cryptoasset services, including interlinked policy documents covering regulation of fiat-backed stablecoins and the failure of systemic digital settlement asset (DSA) firms. This briefing covers the so-called “Phase 2” regulation of wider cryptoasset activities.

On 26 October 2023, the Energy Act 2023 became law. The Energy Act 2023 is a significant overhaul of the UK energy regulatory framework. It is aimed at supporting the development of the UK energy systems in line with the UK government’s current strategy, focusing on net-zero commitments and energy security.

In a long-awaited update on its plans for the UK’s crypto regulatory framework, on 30 October 2023, HM Treasury issued three interlinked policy documents on the future regulation of crypto, covering fiat-backed stablecoins, the wider cryptoasset regulatory regime, and the failure of systemic digital settlement asset (DSA) firms. This briefing covers stablecoin regulation and the failure of systemic DSA firms.

Baker McKenzie’s Sanctions Blog published the alert titled  OFAC and OFSI Issue Joint Humanitarian Assistance and Food Security Fact Sheet Relating to Russia on 11 July 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.