UK law Bank of England and Financial Conduct Authority issue approach document on joint regulation of systemic stablecoin issuers The Bank of England and FCA’s approach document sets out how the UK’s new stablecoin regime will operate when a stablecoin issuer becomes systemically important. Under the framework, the FCA will regulate all UK-issued qualifying stablecoins,…

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The ICO has published its finalised guidance on consumer Internet of Things (IoT) products and services, which sets out clear expectations for manufacturers and developers on how to use people’s personal information responsibility. It explains how data protection law and the Privacy and Electronic Communications Regulations 2003 apply when processing process personal information in consumer…

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UK law Financial Stability Board consults on financial institutions’ responsible AI adoption The Financial Stability Board is consulting on responsible AI adoption by financial institutions. Its report highlights the benefits and risks associated with AI use in the financial system. To facilitate responsible AI adoption by financial institutions, the report proposes a menu of 12…

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UK law UK government consults on data intermediaries Data intermediaries are third-party organisations that act on behalf of individuals to exercise their data subject rights under data protection legislation. Services range from secure personal data storage to donating health data to support scientific research. Last year’s call for evidence identified key issues affecting data intermediaries,…

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UK law GDS and DSIT publish guidance on AI-assisted vulnerability risks in open-source code The Government Digital Service (GDS) and the Department for Science, Innovation and Technology (DSIT) have published guidance on safely publishing source code in the open and reducing the risk of AI-accelerated vulnerability discovery. Technology leaders are asking whether AI-accelerated vulnerability discovery…

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The European Commission has adopted a recommendation designed to enable everyone in the EU to have access to age verification tools based on anonymous proof-of-age technologies, aiming to ensure the highest standards for privacy and data protection. Age verification is part of the Commission’s strategy to protect minors online. The recommendation discusses actions that the…

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