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The UK plans to include stablecoins and tokenized deposits within a unified payment regulation framework
Deep Tide TechFlow News, April 21, According to The Block, the UK Treasury announced a payment regulation reform plan to include traditional payment services, stablecoins, and tokenized deposits under a unified regulatory framework, and plans to regulate stablecoins used for payments through subsequent issuance systems. The plan also proposes expanding the Financial Conduct Authority (FCA) regulatory authority over open banking and studying regulatory adjustments for AI agents conducting payment activities.
Meanwhile, the UK Treasury will provide £1 million in funding to the Centre for Finance, Innovation and Technology starting in April, and appoint Chris Woolard CBE to promote the development of a wholesale digital market tokenized financial system.